Cummins Inc. $CMI Stock: Prairie Advisory LLC Increases Position

Prairie Advisory LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 97.3% in the third quarter, Holdings Channel.com reports. The firm owned 2,524 shares of the company’s stock after acquiring an additional 1,245 shares during the period. Prairie Advisory LLC’s holdings in Cummins were worth $1,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Valmark Advisers Inc. boosted its holdings in shares of Cummins by 1.9% in the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after purchasing an additional 16 shares in the last quarter. Guardian Partners Inc. raised its holdings in shares of Cummins by 1.0% during the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock valued at $852,000 after buying an additional 16 shares in the last quarter. Uhlmann Price Securities LLC raised its holdings in shares of Cummins by 2.4% during the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after buying an additional 17 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in Cummins by 2.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock worth $681,000 after buying an additional 19 shares during the last quarter. Finally, Key Financial Inc lifted its position in Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 698 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the sale, the vice president directly owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMI shares. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. Wells Fargo & Company decreased their price target on shares of Cummins from $874.00 to $760.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. CICC Research started coverage on shares of Cummins in a research note on Sunday, August 23rd. They issued an “outperform” rating and a $781.00 price objective for the company. Finally, Evercore cut their price objective on shares of Cummins from $845.00 to $782.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average target price of $708.18.

Cummins Stock Down 1.2%

Shares of NYSE CMI traded down $6.30 during mid-day trading on Monday, hitting $525.03. 629,310 shares of the stock traded hands, compared to its average volume of 990,327. The stock has a fifty day moving average price of $555.86 and a 200-day moving average price of $620.62. The company has a market cap of $72.28 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. Cummins Inc. has a 52 week low of $407.57 and a 52 week high of $737.76.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.43 EPS. Research analysts anticipate that Cummins Inc. will post 29.98 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a $2.20 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 annualized dividend and a yield of 1.7%. Cummins’s dividend payout ratio is 44.97%.

About Cummins

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins’ product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.