Nisa Investment Advisors LLC Boosts Holdings in Cummins Inc. $CMI

Nisa Investment Advisors LLC raised its position in Cummins Inc. (NYSE:CMI) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,756 shares of the company’s stock after buying an additional 1,111 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cummins were worth $32,034,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Moody Lynn & Lieberson LLC acquired a new position in shares of Cummins during the fourth quarter worth about $241,000. Fifth Third Wealth Advisors LLC lifted its position in Cummins by 48.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,789 shares of the company’s stock valued at $4,486,000 after purchasing an additional 2,873 shares during the period. Archford Capital Strategies LLC boosted its holdings in Cummins by 7.5% in the 4th quarter. Archford Capital Strategies LLC now owns 841 shares of the company’s stock valued at $429,000 after purchasing an additional 59 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in Cummins by 4.1% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,084 shares of the company’s stock valued at $1,064,000 after purchasing an additional 82 shares in the last quarter. Finally, Rockland Trust Co. increased its position in Cummins by 13.9% during the 4th quarter. Rockland Trust Co. now owns 2,371 shares of the company’s stock worth $1,210,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 5.0%

Shares of CMI opened at $537.21 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The stock has a market cap of $74.22 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The firm has a 50 day simple moving average of $569.08 and a 200-day simple moving average of $508.23.

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

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. Sanford C. Bernstein set a $600.00 price target on Cummins and gave the company a “market perform” rating in a report on Friday, February 6th. Raymond James Financial upped their price objective on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wells Fargo & Company increased their price objective on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. UBS Group set a $565.00 target price on Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Finally, Citigroup boosted their target price on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Insider Buying and Selling at Cummins

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is owned by company insiders.

Cummins Company 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.