Cummins Inc. $CMI Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,889 shares of the company’s stock after acquiring an additional 986 shares during the period. Apollon Wealth Management LLC’s holdings in Cummins were worth $7,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. DDD Partners LLC lifted its stake in shares of Cummins by 0.5% in the 4th quarter. DDD Partners LLC now owns 46,127 shares of the company’s stock worth $23,546,000 after acquiring an additional 240 shares during the period. Spirepoint Private Client LLC acquired a new stake in shares of Cummins in the 4th quarter worth approximately $240,000. Legacy Trust lifted its stake in shares of Cummins by 2.3% in the 4th quarter. Legacy Trust now owns 18,169 shares of the company’s stock worth $9,274,000 after acquiring an additional 413 shares during the period. Jackson Thornton Wealth Management LLC lifted its stake in shares of Cummins by 4.3% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 799 shares of the company’s stock worth $437,000 after acquiring an additional 33 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Cummins in the 4th quarter worth approximately $1,483,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other news, VP Earl Newsome sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the sale, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy Rochelle Davis sold 4,054 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the sale, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This represents a 20.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,195 shares of company stock valued at $18,397,489 over the last three months. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. upped their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Argus set a $696.00 target price on shares of Cummins in a report on Tuesday, February 10th. Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price on the stock. in a report on Monday, January 26th. Wells Fargo & Company boosted their target price on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $675.00 target price on shares of Cummins in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Stock Up 0.8%

NYSE CMI opened at $615.80 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The company’s 50 day simple moving average is $568.28 and its 200 day simple moving average is $516.15. Cummins Inc. has a 12 month low of $269.24 and a 12 month high of $620.78. The company has a market capitalization of $85.08 billion, a P/E ratio of 30.01, a PEG ratio of 1.95 and a beta of 1.14.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (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 analyst estimates of $8.09 billion. During the same quarter in the previous year, the business earned $5.16 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect 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 issued a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. Cummins’s payout ratio is currently 38.99%.

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.