Capital Investment Advisors LLC Purchases 1,938 Shares of Cummins Inc. $CMI

Capital Investment Advisors LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,719 shares of the company’s stock after buying an additional 1,938 shares during the period. Capital Investment Advisors LLC owned about 0.09% of Cummins worth $63,152,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CMI. Norges Bank purchased a new stake in shares of Cummins during the second quarter valued at about $505,941,000. Boston Partners acquired a new stake in Cummins in the third quarter valued at approximately $473,471,000. London Co. of Virginia acquired a new stake in Cummins in the third quarter valued at approximately $231,732,000. Bank of New York Mellon Corp grew its holdings in Cummins by 50.8% in the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock worth $612,715,000 after purchasing an additional 488,430 shares during the last quarter. Finally, Amundi increased its position in shares of Cummins by 48.6% during the second quarter. Amundi now owns 1,030,767 shares of the company’s stock worth $343,699,000 after purchasing an additional 337,074 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMI. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a research note on Friday, February 6th. Citigroup boosted their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Wolfe Research lowered shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a research note on Monday, January 26th. UBS Group set a $565.00 price target on shares of Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Barclays upped their target price on Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Stock Down 1.3%

Shares of CMI opened at $523.02 on Friday. The company has a market capitalization of $72.26 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.68 and a beta of 1.12. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The stock’s 50-day moving average price is $571.03 and its 200-day moving average price is $505.16. The company has a quick ratio of 1.16, a current ratio of 1.76 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, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter last year, the company earned $5.16 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

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

Insider Buying and Selling

In other news, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president directly owned 7,214 shares of the company’s stock, valued at $4,329,337.82. This represents a 18.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William I. Miller sold 18,107 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the transaction, the director owned 34,243 shares in the company, valued at $20,446,495.30. This trade represents a 34.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 in the last ninety days. 0.41% of the stock is owned by corporate 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.