Mutual Advisors LLC Buys 357 Shares of Cummins Inc. (NYSE:CMI)

Mutual Advisors LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,117 shares of the company’s stock after acquiring an additional 357 shares during the period. Mutual Advisors LLC’s holdings in Cummins were worth $507,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock worth $4,057,750,000 after acquiring an additional 2,055,239 shares in the last quarter. BlackRock Inc. grew its position in Cummins by 1.5% in the second quarter. BlackRock Inc. now owns 12,398,646 shares of the company’s stock valued at $3,039,652,000 after purchasing an additional 180,643 shares in the last quarter. State Street Corp grew its position in Cummins by 3.0% in the first quarter. State Street Corp now owns 6,482,278 shares of the company’s stock valued at $1,548,473,000 after purchasing an additional 191,776 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Cummins by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after purchasing an additional 173,139 shares in the last quarter. Finally, Morgan Stanley grew its position in Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after purchasing an additional 50,476 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CMI. TD Cowen raised their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Evercore ISI lifted their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $271.64.

Cummins Price Performance

Shares of Cummins stock opened at $294.69 on Thursday. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $297.11. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $260.31 and a two-hundred day simple moving average of $240.49. The stock has a market capitalization of $41.80 billion, a price-to-earnings ratio of 56.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.03.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm earned $4.52 EPS. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 18.36 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 129.73%.

Insider Activity

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $266.91, for a total transaction of $197,246.49. Following the sale, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock worth $13,576,838. 1.05% of the stock is currently owned by corporate insiders.

About Cummins

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.