Arkadios Wealth Advisors Has $1.97 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Arkadios Wealth Advisors decreased its stake in Cummins Inc. (NYSE:CMI) by 11.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,079 shares of the company’s stock after selling 816 shares during the quarter. Arkadios Wealth Advisors’ holdings in Cummins were worth $1,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Cultivar Capital Inc. purchased a new position in shares of Cummins in the second quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Cummins in the 2nd quarter worth approximately $28,000. Lynx Investment Advisory purchased a new position in Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC acquired a new stake in Cummins during the 1st quarter valued at $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the third quarter valued at $34,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $329.17 on Friday. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.92 and a beta of 0.98. The firm has a 50 day moving average of $316.25 and a two-hundred day moving average of $295.98. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $340.82.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the prior year, the business posted $5.18 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Cummins Inc. will post 19.77 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is 53.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. lifted their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Robert W. Baird upped their target price on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Evercore ISI increased their price target on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Truist Financial boosted their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $311.55.

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.