Strong Tower Advisory Services Has $869,000 Position in Cummins Inc. (NYSE:CMI)

Strong Tower Advisory Services lifted its holdings in Cummins Inc. (NYSE:CMI) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 3,627 shares of the company’s stock after buying an additional 225 shares during the quarter. Strong Tower Advisory Services’ holdings in Cummins were worth $869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMI. OFI Invest Asset Management acquired a new stake in shares of Cummins in the 3rd quarter valued at $25,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the 3rd quarter worth $28,000. Global Wealth Strategies & Associates acquired a new position in Cummins during the 3rd quarter worth $29,000. Tyler Stone Wealth Management acquired a new position in Cummins during the 2nd quarter worth $30,000. Finally, Quarry LP acquired a new position in Cummins during the 1st quarter worth $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.0 %

Shares of NYSE CMI opened at $294.61 on Friday. The company’s 50 day simple moving average is $261.54 and its 200 day simple moving average is $240.87. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $297.11. The firm has a market capitalization of $41.79 billion, a P/E ratio of 56.87, a P/E/G ratio of 2.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 18.36 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.28%. Cummins’s dividend payout ratio is currently 129.73%.

Insider Activity at Cummins

In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the sale, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the sale, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The disclosure for this purchase can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 over the last ninety days. Company insiders own 1.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CMI shares. Morgan Stanley began coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 target price for the company. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Evercore ISI boosted their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Citigroup upped their target price on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cummins currently has an average rating of “Hold” and a consensus target price of $271.64.

Cummins Company Profile

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 Accelera. 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 parts and services, as well as remanufactured parts and engines.