Personal Wealth Partners Invests $91,000 in Cummins Inc. (NYSE:CMI)

Personal Wealth Partners acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the 2nd quarter, Holdings Channel reports. The firm acquired 532 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors have also recently added to or reduced their stakes in CMI. Gradient Investments LLC grew its stake in Cummins by 102.8% in the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. Guidant Wealth Advisors acquired a new position in Cummins in the 1st quarter valued at about $29,000. SeaBridge Investment Advisors LLC acquired a new position in Cummins in the 1st quarter valued at about $32,000. Meridian Wealth Management LLC acquired a new position in Cummins in the 1st quarter valued at about $32,000. Finally, Sonora Investment Management LLC acquired a new position in Cummins in the 2nd quarter valued at about $32,000. Institutional investors own 81.03% of the company’s stock.

Shares of Cummins stock traded down $3.76 on Friday, reaching $149.96. 1,375,271 shares of the stock were exchanged, compared to its average volume of 1,289,008. The firm’s 50 day simple moving average is $167.81. Cummins Inc. has a one year low of $124.40 and a one year high of $175.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.66. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.20 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.36 billion. Cummins had a return on equity of 29.75% and a net margin of 10.74%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. As a group, research analysts predict that Cummins Inc. will post 15.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.311 per share. The ex-dividend date is Tuesday, August 20th. This is a boost from Cummins’s previous quarterly dividend of $1.14. This represents a $5.24 annualized dividend and a dividend yield of 3.50%. Cummins’s dividend payout ratio is 34.47%.

A number of research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Cummins from $176.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley decreased their price target on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Credit Suisse Group upped their price target on shares of Cummins from $198.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI reiterated an “in-line” rating and issued a $169.00 price target (up previously from $163.00) on shares of Cummins in a research note on Friday, May 31st. Finally, Wells Fargo & Co decreased their price target on shares of Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $166.67.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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