811 Shares in Cummins Inc. $CMI Acquired by Larry Mathis Financial Planning LLC

Larry Mathis Financial Planning LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 811 shares of the company’s stock, valued at approximately $414,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. Intech Investment Management LLC grew its position in Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Cummins by 2.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC bought a new position in Cummins in the second quarter valued at about $225,000. Finally, Osterweis Capital Management Inc. bought a new position in Cummins in the second quarter valued at about $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Marvin Boakye sold 3,481 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $679.90, for a total value of $2,366,731.90. Following the transaction, the vice president directly owned 8,508 shares of the company’s stock, valued at $5,784,589.20. The trade was a 29.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,579 shares of company stock valued at $9,377,684 over the last quarter. Company insiders own 0.30% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $716.50 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $737.76. The company has a 50 day simple moving average of $663.00 and a two-hundred day simple moving average of $590.68. The company has a market capitalization of $98.87 billion, a PE ratio of 37.18, a P/E/G ratio of 1.75 and a beta of 1.23.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $5.96 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Cummins Inc. will post 29.31 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent research reports. Raymond James Financial lifted their price target on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 price objective on shares of Cummins in a report on Wednesday, May 6th. Morgan Stanley boosted their target price on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $731.86.

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.