Cummins Inc. (NYSE:CMI) Shares Acquired by Advisory Resource Group

Advisory Resource Group lifted its stake in Cummins Inc. (NYSE:CMI) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,328 shares of the company’s stock after purchasing an additional 155 shares during the period. Cummins comprises about 1.1% of Advisory Resource Group’s holdings, making the stock its 24th largest holding. Advisory Resource Group’s holdings in Cummins were worth $4,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMI. CarsonAllaria Wealth Management Ltd. acquired a new position in Cummins during the second quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new stake in shares of Cummins during the second quarter worth approximately $28,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the 3rd quarter worth $34,000. Finally, Gradient Investments LLC lifted its stake in shares of Cummins by 290.0% in the 2nd quarter. Gradient Investments LLC now owns 156 shares of the company’s stock worth $43,000 after acquiring an additional 116 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by company insiders.

Cummins Price Performance

CMI stock opened at $377.72 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock’s 50 day moving average price is $349.67 and its 200 day moving average price is $311.38. The firm has a market cap of $51.82 billion, a P/E ratio of 24.96, a PEG ratio of 1.84 and a beta of 0.99. Cummins Inc. has a 1 year low of $226.52 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.73 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMI. The Goldman Sachs Group raised their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $420.00 in a research report on Monday. Citigroup boosted their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $352.85.

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.