1,095 Shares in Cummins Inc. (NYSE:CMI) Acquired by Financial Partners Group LLC

Financial Partners Group LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,095 shares of the company’s stock, valued at approximately $323,000.

A number of other large investors have also recently bought and sold shares of the stock. First United Bank & Trust acquired a new stake in shares of Cummins during the fourth quarter valued at $25,000. Private Wealth Management Group LLC acquired a new stake in shares of Cummins during the 4th quarter worth about $26,000. Silver Oak Securities Incorporated purchased a new stake in shares of Cummins during the third quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cummins in the fourth quarter valued at approximately $31,000. Finally, Quarry LP lifted its stake in shares of Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company’s stock worth $35,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen raised their price target on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. upped their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. The Goldman Sachs Group lifted their price target on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Robert W. Baird dropped their price objective on Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Truist Financial reiterated a “hold” rating and issued a $319.00 target price on shares of Cummins in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus target price of $287.55.

Cummins Stock Down 1.3 %

Shares of NYSE:CMI traded down $3.56 during mid-day trading on Friday, hitting $276.93. 1,643,842 shares of the company traded hands, compared to its average volume of 1,005,899. The firm’s 50 day simple moving average is $282.30 and its 200 day simple moving average is $269.13. The firm has a market cap of $37.88 billion, a P/E ratio of 20.27, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $304.24.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. On average, equities analysts anticipate that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were issued a $1.68 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. Cummins’s dividend payout ratio is currently 49.19%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Marvin Boakye bought 1,745 shares of the business’s stock in a transaction on Monday, May 20th. The shares were bought at an average cost of $286.04 per share, with a total value of $499,139.80. Following the transaction, the vice president now directly owns 1,745 shares in the company, valued at approximately $499,139.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Marvin Boakye purchased 1,745 shares of Cummins stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $286.04 per share, with a total value of $499,139.80. Following the completion of the transaction, the vice president now owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate insiders.

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.