Leeward Financial Partners LLC Makes New $4.82 Million Investment in Cummins Inc. $CMI

Leeward Financial Partners LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,763 shares of the company’s stock, valued at approximately $4,823,000. Cummins makes up about 1.3% of Leeward Financial Partners LLC’s portfolio, making the stock its 23rd largest holding.

Other institutional investors have also recently modified their holdings of the company. Juno Financial Group LLC acquired a new position in shares of Cummins in the 4th quarter valued at approximately $883,000. Truist Financial Corp boosted its position in shares of Cummins by 4.8% during the 4th quarter. Truist Financial Corp now owns 64,005 shares of the company’s stock worth $32,671,000 after acquiring an additional 2,951 shares in the last quarter. Smith Salley Wealth Management boosted its position in shares of Cummins by 1,381.8% during the 4th quarter. Smith Salley Wealth Management now owns 21,768 shares of the company’s stock worth $11,111,000 after acquiring an additional 20,299 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Cummins in the fourth quarter valued at approximately $7,797,000. Finally, Kepler Cheuvreux Suisse SA bought a new position in Cummins in the fourth quarter valued at approximately $7,869,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

CMI stock opened at $631.81 on Friday. The company has a 50 day simple moving average of $665.58 and a 200 day simple moving average of $627.15. The stock has a market cap of $86.98 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 1.50 and a beta of 1.24. Cummins Inc. has a 1 year low of $389.52 and a 1 year high of $737.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. During the same period in the previous year, the company earned $6.43 EPS. Cummins’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Cummins Inc. will post 30.15 EPS for the current fiscal year.

Cummins Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins’s dividend payout ratio (DPR) is currently 40.88%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CMI shares. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Evercore reaffirmed an “outperform” rating and issued a $845.00 target price on shares of Cummins in a report on Monday, May 11th. Barclays lifted their price target on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Cummins from $794.00 to $874.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus price target of $745.64.

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.