Cummins Inc. (NYSE:CMI) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL increased its position in shares of Cummins Inc. (NYSE:CMI) by 58.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,724 shares of the company’s stock after buying an additional 8,793 shares during the quarter. Blair William & Co. IL’s holdings in Cummins were worth $6,990,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CMI. First United Bank & Trust purchased a new stake in shares of Cummins during the 4th quarter valued at approximately $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Cummins during the 4th quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cummins during the 4th quarter valued at approximately $31,000. JNBA Financial Advisors raised its position in shares of Cummins by 1,111.1% during the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after buying an additional 100 shares during the period. Finally, Quarry LP raised its position in shares of Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 2.4 %

Shares of NYSE:CMI traded down $7.25 during trading on Friday, hitting $290.98. The company’s stock had a trading volume of 1,763,779 shares, compared to its average volume of 1,963,747. The business has a 50 day moving average price of $279.84 and a two-hundred day moving average price of $272.44. The company has a market capitalization of $39.80 billion, a PE ratio of 21.41, a P/E/G ratio of 1.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. As a group, research analysts expect that Cummins Inc. will post 18.61 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, August 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Cummins’s previous quarterly dividend of $1.68. Cummins’s payout ratio is presently 49.19%.

Insider Buying and Selling

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Marvin Boakye acquired 1,745 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was bought at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the purchase, the vice president now directly owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey T. Wiltrout acquired 282 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was bought at an average price of $285.11 per share, with a total value of $80,401.02. Following the purchase, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CMI shares. Robert W. Baird reduced their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Citigroup began coverage on Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 target price on the stock. Truist Financial cut their target price on Cummins from $319.00 to $315.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. Finally, The Goldman Sachs Group boosted their target price on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $287.18.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.