DiNuzzo Private Wealth Inc. Buys Shares of 128 Cummins Inc. (NYSE:CMI)

DiNuzzo Private Wealth Inc. acquired a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel.com reports. The fund acquired 128 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors have also modified their holdings of the company. Balentine LLC grew its stake in shares of Cummins by 3.3% in the third quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after buying an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Cummins by 200.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after buying an additional 3,866 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Cummins in the third quarter valued at $9,048,000. Capital Advisors Inc. OK acquired a new position in Cummins during the 4th quarter worth $24,915,000. Finally, SG Americas Securities LLC grew its stake in Cummins by 227.6% during 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 in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CMI. Evercore ISI boosted their target price on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $279.70.

Insider Activity

In other news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. In the last three months, insiders sold 51,289 shares of company stock valued at $13,576,838. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.5 %

Cummins stock opened at $283.85 on Thursday. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The company has a market capitalization of $38.82 billion, a P/E ratio of 54.80, a PEG ratio of 1.92 and a beta of 1.04. The stock has a 50-day simple moving average of $284.71 and a 200-day simple moving average of $251.99.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts expect that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is currently 129.73%.

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.