Strong Tower Advisory Services Purchases 225 Shares of Cummins Inc. (NYSE:CMI)

Strong Tower Advisory Services grew its position in Cummins Inc. (NYSE:CMI) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,627 shares of the company’s stock after acquiring an additional 225 shares during the quarter. Strong Tower Advisory Services’ holdings in Cummins were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Balentine LLC increased its stake in Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after acquiring an additional 127 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Cummins in the 3rd quarter worth approximately $9,048,000. SG Americas Securities LLC boosted its holdings in shares of Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after purchasing an additional 16,869 shares during the period. Eldred Rock Partners LLC purchased a new position in shares of Cummins in the 4th quarter worth approximately $7,195,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Cummins by 4.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,307 shares of the company’s stock worth $53,498,000 after purchasing an additional 9,564 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.0 %

Shares of NYSE:CMI opened at $294.61 on Friday. The business’s 50-day moving average is $261.54 and its 200 day moving average is $240.87. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $297.11. The firm has a market capitalization of $41.79 billion, a P/E ratio of 56.87, a P/E/G ratio of 2.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.52 earnings per share. On average, research analysts predict that Cummins Inc. will post 18.36 earnings per share for the current fiscal year.

Cummins Announces Dividend

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

Insider Buying and Selling at Cummins

In related news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer Rumsey sold 739 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 of the company’s stock, valued at $720,123.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. 1.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMI. JPMorgan Chase & Co. lifted their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Morgan Stanley started coverage on Cummins in a report on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective for the company. Finally, TD Cowen boosted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $271.64.

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.