WealthShield Partners LLC Has $1.49 Million Stake in Cummins Inc. $CMI

WealthShield Partners LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 12.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,534 shares of the company’s stock after acquiring an additional 493 shares during the period. WealthShield Partners LLC’s holdings in Cummins were worth $1,485,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Orca Wealth Management LLC raised its holdings in shares of Cummins by 0.6% during the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after purchasing an additional 28 shares during the period. V Square Quantitative Management LLC raised its stake in 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 buying an additional 31 shares during the period. Bank of Jackson Hole Trust boosted its holdings in Cummins by 1.2% in the first quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock worth $887,000 after acquiring an additional 33 shares in the last quarter. Scotia Capital Inc. grew its stake in Cummins by 0.5% in 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 during the period. Finally, Van Hulzen Asset Management LLC raised its position in shares of Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock worth $872,000 after purchasing an additional 34 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE CMI opened at $461.54 on Friday. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $484.84. The stock has a fifty day simple moving average of $428.42 and a two-hundred day simple moving average of $375.53. The firm has a market cap of $63.71 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating the consensus estimate of $4.83 by $0.76. The business had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.86 earnings per share. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 21st. Cummins’s payout ratio is presently 41.52%.

Insider Buying and Selling

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of Cummins stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total transaction of $529,766.31. Following the completion of the transaction, the director owned 5,227 shares of the company’s stock, valued at $2,118,659.91. The trade was a 20.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 38,127 shares of company stock worth $16,993,030 in the last 90 days. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CMI. Citigroup boosted their price target on shares of Cummins from $500.00 to $530.00 and gave the company a “buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Truist Financial lifted their price target on Cummins from $434.00 to $522.00 and gave the company a “hold” rating in a research note on Friday, November 7th. 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. Finally, Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, September 3rd. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.93.

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.