Demming Financial Services Corp ADV Acquires New Position in Cummins Inc. $CMI

Demming Financial Services Corp ADV bought a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,329 shares of the company’s stock, valued at approximately $678,000. Cummins accounts for 0.5% of Demming Financial Services Corp ADV’s investment portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMI. Thompson Investment Management Inc. acquired a new stake in Cummins during the 4th quarter worth approximately $26,000. Activest Wealth Management increased its holdings in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Cummins during the third quarter worth $28,000. Finally, Birchwood Financial Partners Inc. purchased a new position in Cummins in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the completion of the transaction, the vice president owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the sale, the vice president owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $535.58 on Monday. The stock has a market cap of $74.00 billion, a PE ratio of 26.10, a P/E/G ratio of 1.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $617.98. The stock has a fifty day moving average price of $574.09 and a 200 day moving average price of $496.58.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.16 EPS. Sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.5%. Cummins’s payout ratio is 38.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMI shares. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research report on Friday, February 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Truist Financial reaffirmed a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a report on Friday, February 6th. Finally, Barclays increased their target price on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.