Cerity Partners LLC Has $54.37 Million Holdings in Cummins Inc. $CMI

Cerity Partners LLC lifted its position in Cummins Inc. (NYSE:CMI) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,728 shares of the company’s stock after acquiring an additional 11,051 shares during the quarter. Cerity Partners LLC owned approximately 0.09% of Cummins worth $54,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new stake in shares of Cummins in the second quarter valued at $31,000. Salomon & Ludwin LLC raised its position in Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the period. Tripletail Wealth Management LLC purchased a new stake in Cummins in the 3rd quarter worth about $39,000. CNB Bank acquired a new stake in Cummins during the 2nd quarter worth about $43,000. Finally, SJS Investment Consulting Inc. grew its stake in Cummins by 1,414.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 99 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of NYSE:CMI opened at $538.93 on Thursday. The stock has a market capitalization of $74.39 billion, a P/E ratio of 27.97, a P/E/G ratio of 1.91 and a beta of 1.12. The business has a 50-day moving average of $494.11 and a two-hundred day moving average of $425.14. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $547.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. The business had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $5.86 EPS. On average, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 21st. Cummins’s dividend payout ratio is currently 41.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. UBS Group upgraded shares of Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $475.00 target price on shares of Cummins in a research report on Friday, November 7th. Citigroup boosted their price target on shares of Cummins from $530.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company started coverage on Cummins in a report on Thursday, November 13th. They set an “overweight” rating and a $599.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $492.75.

Insider Activity at Cummins

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the transaction, the chief financial officer owned 31,582 shares in the company, valued at $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 19,330 shares of company stock worth $9,135,364. 0.41% of the stock is owned by insiders.

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.