CMH Wealth Management LLC Increases Stock Position in Cummins Inc. (NYSE:CMI)

CMH Wealth Management LLC grew its stake in shares of Cummins Inc. (NYSE:CMIGet 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 (NYSE:CMIGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $4.77 EPS for the quarter, topping the consensus estimate of $4.37 by $0.40. Cummins had a return on equity of 23.41% and a net margin of 8.26%. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.48 billion. During the same quarter in the prior year, the firm posted $4.15 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 18.03 earnings per share for the current year.

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.

About Cummins

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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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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