IHT Wealth Management LLC Increases Position in Cummins Inc. (NYSE:CMI)

IHT Wealth Management LLC lifted its holdings in Cummins Inc. (NYSE:CMI – Get Rating) by 66.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,495 shares of the company’s stock after purchasing an additional 1,795 shares during the period. IHT Wealth Management LLC’s holdings in Cummins were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Price T Rowe Associates Inc. MD increased its stake in shares of Cummins by 39.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock valued at $1,067,213,000 after purchasing an additional 1,484,171 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cummins by 48.8% in the 3rd quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock worth $413,878,000 after buying an additional 666,567 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Cummins by 69.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,221,941 shares of the company’s stock worth $248,698,000 after buying an additional 501,499 shares during the last quarter. Castleview Partners LLC boosted its holdings in Cummins by 18,796.4% in the 2nd quarter. Castleview Partners LLC now owns 432,539 shares of the company’s stock worth $2,235,000 after buying an additional 430,250 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cummins by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock worth $2,687,113,000 after buying an additional 226,774 shares during the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total value of $486,420.12. Following the sale, the director now owns 21,742 shares of the company’s stock, valued at $5,471,156.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total value of $486,420.12. Following the sale, the director now owns 21,742 shares of the company’s stock, valued at $5,471,156.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Walter J. Fier sold 3,307 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total value of $836,637.93. Following the sale, the vice president now directly owns 8,090 shares in the company, valued at approximately $2,046,689.10. The disclosure for this sale can be found here. Insiders have sold a total of 16,709 shares of company stock valued at $4,245,545 over the last quarter. 1.00% of the stock is owned by company insiders.

Cummins Trading Down 2.9 %

CMI opened at $225.21 on Friday. Cummins Inc. has a one year low of $184.27 and a one year high of $261.91. The stock has a market capitalization of $31.84 billion, a PE ratio of 14.90, a P/E/G ratio of 1.38 and a beta of 1.01. The business’s 50 day moving average price is $247.59 and its 200 day moving average price is $237.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.27.

Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings data on Monday, February 6th. The company reported $4.52 EPS for the quarter, meeting analysts’ consensus estimates of $4.52. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the firm posted $2.85 earnings per share. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 18.95 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Friday, February 24th were given a $1.57 dividend. This represents a $6.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, February 23rd. Cummins’s payout ratio is 41.56%.

Analyst Upgrades and Downgrades

CMI has been the topic of several research analyst reports. Credit Suisse Group lifted their price objective on Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. UBS Group boosted their target price on Cummins from $247.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. StockNews.com assumed coverage on Cummins in a report on Thursday. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Cummins from $235.00 to $231.00 and set a “hold” rating on the stock in a report on Tuesday, February 7th. Finally, Morgan Stanley lowered their target price on Cummins from $264.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, January 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $254.75.

Cummins Company Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.