Ranch Capital Advisors Inc. Buys 231 Shares of Cummins Inc. $CMI

Ranch Capital Advisors Inc. boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,666 shares of the company’s stock after purchasing an additional 231 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Cummins were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CMI. Brighton Jones LLC boosted its holdings in Cummins by 4.1% in the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after acquiring an additional 83 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cummins by 22.3% in the first quarter. GAMMA Investing LLC now owns 3,801 shares of the company’s stock worth $1,191,000 after purchasing an additional 692 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Cummins by 11.0% during the first quarter. Flagship Harbor Advisors LLC now owns 694 shares of the company’s stock valued at $217,000 after acquiring an additional 69 shares in the last quarter. Golden State Wealth Management LLC raised its position in Cummins by 117.5% during the first quarter. Golden State Wealth Management LLC now owns 2,214 shares of the company’s stock valued at $694,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its position in Cummins by 0.6% during the first quarter. Perigon Wealth Management LLC now owns 6,588 shares of the company’s stock valued at $2,065,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity

In other news, Director Karen H. Quintos sold 1,307 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the completion of the sale, the director directly owned 5,227 shares of the company’s stock, valued at $2,118,659.91. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy Rochelle Davis sold 5,002 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the transaction, the vice president directly owned 20,738 shares of the company’s stock, valued at $8,354,925.44. The trade was a 19.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,119 shares of company stock worth $17,674,285 over the last quarter. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on CMI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a report on Tuesday, October 14th. Wolfe Research raised Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Truist Financial lifted their price target on Cummins from $380.00 to $434.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company raised Cummins to an “overweight” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $410.50.

Cummins Trading Up 1.0%

CMI opened at $421.79 on Friday. The business has a fifty day moving average price of $412.77 and a 200 day moving average price of $357.20. The stock has a market capitalization of $58.12 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.94 and a beta of 1.04. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $440.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $1.22. The business had revenue of $8.64 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.26 EPS. Sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.9%. Cummins’s dividend payout ratio is currently 37.61%.

About Cummins

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.