Fairvoy Private Wealth LLC Acquires 1,599 Shares of Cummins Inc. $CMI

Fairvoy Private Wealth LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,402 shares of the company’s stock after purchasing an additional 1,599 shares during the quarter. Cummins makes up approximately 1.1% of Fairvoy Private Wealth LLC’s holdings, making the stock its 27th biggest position. Fairvoy Private Wealth LLC’s holdings in Cummins were worth $4,816,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CMI. Motley Fool Asset Management LLC boosted its holdings in shares of Cummins by 9.7% during the 2nd quarter. Motley Fool Asset Management LLC now owns 7,018 shares of the company’s stock valued at $2,298,000 after purchasing an additional 623 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Cummins by 14.4% during the second quarter. Applied Finance Capital Management LLC now owns 60,797 shares of the company’s stock valued at $19,910,000 after buying an additional 7,656 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Cummins by 6.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock valued at $91,054,000 after buying an additional 17,566 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cummins by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock valued at $5,773,219,000 after buying an additional 344,680 shares in the last quarter. Finally, Jump Financial LLC increased its stake in Cummins by 101.9% in the 1st quarter. Jump Financial LLC now owns 5,843 shares of the company’s stock worth $1,831,000 after acquiring an additional 2,949 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jennifer Rumsey sold 4,570 shares of Cummins stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares in the company, valued at $20,320,403.20. This trade represents a 9.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the transaction, the insider owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 27,330 shares of company stock valued at $12,649,764. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMI. Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, September 3rd. Barclays reiterated a “positive” rating on shares of Cummins in a research report on Friday. Truist Financial boosted their target price on shares of Cummins from $628.00 to $653.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Argus lifted their price target on Cummins from $459.00 to $573.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $486.60.

Cummins Stock Up 1.3%

Shares of NYSE:CMI opened at $507.14 on Friday. The firm has a market capitalization of $70.01 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The business has a 50 day simple moving average of $467.22 and a two-hundred day simple moving average of $406.30. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $526.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The firm had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. During the same period in the prior year, the business posted $5.86 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Friday, November 21st were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, November 21st. Cummins’s dividend payout ratio (DPR) is 41.52%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.