CMH Wealth Management LLC grew its stake in shares of Cummins Inc. (NYSE:CMI – Get Rating) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,768 shares of the company’s stock after acquiring an additional 612 shares during the quarter. CMH Wealth Management LLC’s holdings in Cummins were worth $2,471,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CMI. Cyrus J. Lawrence LLC purchased a new stake in shares of Cummins during the 1st quarter valued at about $25,000. Tyler Stone Wealth Management bought a new stake in shares of Cummins during the first quarter valued at approximately $25,000. Mystic Asset Management Inc. bought a new stake in shares of Cummins during the fourth quarter valued at approximately $27,000. Cornerstone Advisory LLC bought a new stake in shares of Cummins during the fourth quarter valued at approximately $40,000. Finally, Bank of New Hampshire bought a new stake in shares of Cummins during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.
Cummins Stock Performance
NYSE CMI traded down $5.61 during trading hours on Friday, reaching $201.43. The stock had a trading volume of 16,777 shares, compared to its average volume of 692,717. The stock has a fifty day moving average of $216.54 and a 200 day moving average of $206.05. The stock has a market cap of $28.40 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. Cummins Inc. has a 52-week low of $184.27 and a 52-week high of $247.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.04 and a current ratio of 1.66.
Cummins Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 19th were paid a $1.57 dividend. This is an increase from Cummins’s previous quarterly dividend of $1.45. This represents a $6.28 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 18th. Cummins’s dividend payout ratio is currently 43.98%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. Morgan Stanley dropped their price objective on shares of Cummins from $205.00 to $187.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. JPMorgan Chase & Co. began coverage on shares of Cummins in a research note on Thursday, August 18th. They set a “neutral” rating for the company. Cowen lowered their target price on shares of Cummins from $281.00 to $267.00 in a research note on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Cummins from $232.00 to $216.00 and set a “hold” rating for the company in a research note on Wednesday, July 13th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.22.
Insider Activity at Cummins
In other news, VP Sharon R. Barner sold 3,115 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $225.11, for a total transaction of $701,217.65. Following the completion of the transaction, the vice president now directly owns 16,348 shares in the company, valued at approximately $3,680,098.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Sharon R. Barner sold 3,115 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $225.11, for a total transaction of $701,217.65. Following the completion of the transaction, the vice president now directly owns 16,348 shares in the company, valued at approximately $3,680,098.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srikanth Padmanabhan sold 6,020 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $222.01, for a total value of $1,336,500.20. Following the transaction, the insider now owns 22,020 shares of the company’s stock, valued at $4,888,660.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,001 shares of company stock valued at $3,157,774. 1.00% of the stock is owned by insiders.
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines.
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