Cummins Inc. $CMI Position Increased by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,051 shares of the company’s stock after acquiring an additional 285 shares during the period. RFG Bristol Wealth Advisors LLC’s holdings in Cummins were worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orca Wealth Management LLC raised its stake in shares of Cummins by 0.6% during the 2nd quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock worth $1,509,000 after purchasing an additional 28 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Cummins by 1.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock worth $1,076,000 after purchasing an additional 31 shares in the last quarter. Bank of Jackson Hole Trust raised its position in Cummins by 1.2% during the first quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock valued at $887,000 after acquiring an additional 33 shares in the last quarter. Scotia Capital Inc. raised its position in Cummins by 0.5% during the first quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock valued at $2,104,000 after acquiring an additional 34 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its position in Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock valued at $872,000 after acquiring an additional 34 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In related news, CFO Mark Andrew Smith sold 8,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $439.30, for a total transaction of $3,514,400.00. Following the transaction, the chief financial officer owned 31,582 shares of the company’s stock, valued at approximately $13,873,972.60. The trade was a 20.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Luther E. Peters sold 4,850 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $389.19, for a total transaction of $1,887,571.50. Following the transaction, the vice president directly owned 7,693 shares in the company, valued at $2,994,038.67. This trade represents a 38.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,319 shares of company stock valued at $17,764,105 in the last three months. 0.41% of the stock is owned by insiders.

Cummins Stock Performance

Shares of CMI opened at $428.58 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. The company’s fifty day moving average price is $417.32 and its 200 day moving average price is $365.98. The company has a market capitalization of $59.05 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.05 and a beta of 1.04. Cummins Inc. has a one year low of $260.02 and a one year high of $449.21.

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

Cummins Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CMI shares. Wolfe Research raised shares of Cummins from a “hold” rating to an “outperform” rating in a research report on Monday, August 11th. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a report on Tuesday, October 14th. Evercore ISI restated an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Finally, Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $410.50.

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.