64,759 Shares in Cummins Inc. (NYSE:CMI) Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 64,759 shares of the company’s stock, valued at approximately $15,514,000. Cummins comprises 2.2% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Cummins by 13.1% in the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after buying an additional 2,055,239 shares in the last quarter. Fisher Asset Management LLC grew its position in Cummins by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,590,894 shares of the company’s stock worth $620,701,000 after buying an additional 106,017 shares during the period. Morgan Stanley grew its holdings in Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after purchasing an additional 50,476 shares during the last quarter. Northern Trust Corp increased its stake in Cummins by 4.0% during the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock worth $414,821,000 after acquiring an additional 69,830 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Cummins by 0.9% during the third quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock valued at $365,430,000 after acquiring an additional 13,634 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 0.7 %

NYSE:CMI traded up $2.06 during mid-day trading on Wednesday, hitting $288.97. 756,789 shares of the company’s stock were exchanged, compared to its average volume of 2,531,926. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a 50 day simple moving average of $286.11 and a 200-day simple moving average of $253.84. The firm has a market capitalization of $39.53 billion, a P/E ratio of 21.02, a PEG ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.33%. Cummins’s payout ratio is 49.19%.

Insider Buying and Selling at Cummins

In related news, Director Daniel William Fisher acquired 562 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the purchase, the director now directly owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cummins news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,169 shares of company stock valued at $14,689,855. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CMI shares. TD Cowen increased their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Evercore ISI upped their target price on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Citigroup boosted their target price on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. The Goldman Sachs Group upped their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $282.55.

Cummins 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.