1900 Wealth Management LLC Makes New Investment in Cummins Inc. $CMI

1900 Wealth Management LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 956 shares of the company’s stock, valued at approximately $488,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Thompson Investment Management Inc. purchased a new stake in Cummins in the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in Cummins during the 3rd quarter worth about $28,000. Osterweis Capital Management Inc. acquired a new position in Cummins during the 2nd quarter worth about $31,000. Holos Integrated Wealth LLC purchased a new position in Cummins during the 4th quarter valued at about $32,000. Finally, Guerra Advisors Inc acquired a new position in Cummins in the 3rd quarter valued at about $36,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMI. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Morgan Stanley restated an “overweight” rating and set a $675.00 price target on shares of Cummins in a report on Friday, February 6th. Raymond James Financial lifted their price objective on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Wall Street Zen downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Insider Buying and Selling at Cummins

In related news, Director William I. Miller sold 18,107 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director directly owned 34,243 shares of the company’s stock, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 15,130 shares in the company, valued at $8,849,990.90. The trade was a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,195 shares of company stock valued at $18,397,489. Insiders own 0.41% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $549.83 on Friday. 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 Inc. has a twelve month low of $260.02 and a twelve month high of $617.98. The stock has a 50 day moving average of $567.38 and a two-hundred day moving average of $509.76. The stock has a market cap of $75.96 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.74 and a beta of 1.14.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating 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 period in the previous year, the company posted $5.16 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders 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 annualized dividend and a dividend yield of 1.5%. Cummins’s payout ratio is presently 38.99%.

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.