Salvus Wealth Management LLC Makes New $567,000 Investment in Cummins Inc. $CMI

Salvus Wealth Management LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,111 shares of the company’s stock, valued at approximately $567,000.

A number of other institutional investors also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its holdings in shares of Cummins by 0.9% in the 4th quarter. DAVENPORT & Co LLC now owns 38,704 shares of the company’s stock worth $19,756,000 after acquiring an additional 361 shares in the last quarter. Pensionfund Sabic acquired a new stake in Cummins during the 4th quarter valued at $1,940,000. JGP Wealth Management LLC raised its position in Cummins by 2.2% in the 4th quarter. JGP Wealth Management LLC now owns 4,224 shares of the company’s stock valued at $2,156,000 after purchasing an additional 91 shares during the last quarter. Sunflower Bank N.A. bought a new position in Cummins in the 4th quarter valued at $246,000. Finally, Clear Trail Advisors LLC acquired a new position in Cummins in the fourth quarter worth $445,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of Cummins stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the transaction, the vice president owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director owned 34,243 shares of the company’s stock, valued at $20,446,495.30. This trade represents a 34.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 over the last three months. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CMI shares. Raymond James Financial lifted their price target on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research report on Friday, February 6th. UBS Group set a $565.00 target price on shares of Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Wall Street Zen lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $675.00 price target on shares of Cummins in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Stock Up 0.0%

Shares of NYSE:CMI opened at $554.78 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market cap of $76.65 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.76 and a beta of 1.12. The company has a 50 day moving average of $573.09 and a 200-day moving average of $504.11. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98.

Cummins (NYSE:CMI) last released its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast 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 was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

About Cummins

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.