Aptus Capital Advisors LLC Has $5.27 Million Stock Position in Cummins Inc. $CMI

Aptus Capital Advisors LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 12.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,483 shares of the company’s stock after acquiring an additional 1,366 shares during the period. Aptus Capital Advisors LLC’s holdings in Cummins were worth $5,272,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares during the period. Intech Investment Management LLC increased its holdings in shares of Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Cummins by 109.0% in the second quarter. Atlantic Union Bankshares Corp now owns 4,574 shares of the company’s stock valued at $1,498,000 after buying an additional 2,385 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Cummins by 8.4% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 48,958 shares of the company’s stock worth $16,020,000 after acquiring an additional 3,803 shares during the period. Finally, Soltis Investment Advisors LLC increased its position in shares of Cummins by 13.7% in the second quarter. Soltis Investment Advisors LLC now owns 986 shares of the company’s stock worth $323,000 after purchasing an additional 119 shares during the period. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction on 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 sale, the director owned 34,243 shares of the company’s stock, valued at $20,446,495.30. This trade represents a 34.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the sale, the vice president owned 15,130 shares in the company, valued at $8,849,990.90. This represents a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,195 shares of company stock worth $18,397,489 in the last ninety days. Insiders own 0.41% of the company’s stock.

Cummins Trading Down 3.0%

Shares of Cummins stock opened at $539.59 on Friday. The firm’s 50 day moving average is $570.78 and its 200 day moving average is $490.67. The firm has a market capitalization of $74.55 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $617.98. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio is presently 38.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday. Morgan Stanley restated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a research report on Friday, February 6th. Raymond James Financial upped their target price on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the company a “market perform” rating in a report on Friday, February 6th. Finally, Robert W. Baird set a $580.00 price target on Cummins in a research note on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

About Cummins

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.