Ethic Inc. Acquires 1,130 Shares of Cummins Inc. $CMI

Ethic Inc. raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,290 shares of the company’s stock after buying an additional 1,130 shares during the quarter. Ethic Inc.’s holdings in Cummins were worth $7,294,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Koshinski Asset Management Inc. lifted its position in Cummins by 4.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,925 shares of the company’s stock valued at $983,000 after purchasing an additional 74 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in Cummins by 117.1% during the fourth quarter. Generali Asset Management SPA SGR now owns 12,768 shares of the company’s stock valued at $6,517,000 after purchasing an additional 6,887 shares during the last quarter. MGO One Seven LLC lifted its position in Cummins by 10.1% during the fourth quarter. MGO One Seven LLC now owns 14,821 shares of the company’s stock valued at $7,565,000 after purchasing an additional 1,354 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in Cummins by 12.4% during the fourth quarter. Crestwood Advisors Group LLC now owns 2,854 shares of the company’s stock valued at $1,457,000 after purchasing an additional 315 shares during the last quarter. Finally, Kassira Wealth Management LLC bought a new position in Cummins during the fourth quarter valued at $230,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.5%

CMI stock opened at $679.25 on Friday. The company has a market capitalization of $93.73 billion, a PE ratio of 35.25, a P/E/G ratio of 1.74 and a beta of 1.27. Cummins Inc. has a 12 month low of $305.13 and a 12 month high of $718.08. The firm’s 50-day moving average is $586.92 and its 200 day moving average is $543.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.16.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.96 EPS. On average, research analysts anticipate that Cummins Inc. will post 28.39 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Insider Buying and Selling

In related news, VP Amy Rochelle Davis sold 4,054 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the transaction, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,603 shares of company stock worth $20,047,788 over the last ninety days. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMI. Truist Financial set a $815.00 target price on shares of Cummins in a research note on Wednesday. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. Barclays increased their target price on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $649.47.

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.