Alpha Financial Partners LLC Purchases Shares of 1,039 Cummins Inc. $CMI

Alpha Financial Partners LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the third quarter, HoldingsChannel reports. The institutional investor purchased 1,039 shares of the company’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Stock Yards Bank & Trust Co. grew its holdings in Cummins by 0.4% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after buying an additional 24 shares during the period. Whittier Trust Co. boosted its position in shares of Cummins by 0.9% in the third quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock worth $1,154,000 after acquiring an additional 24 shares during the last quarter. Howard Capital Management Inc. grew its holdings in Cummins by 2.9% in the third quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock valued at $365,000 after purchasing an additional 24 shares during the period. BNP Paribas increased its position in Cummins by 1.8% during the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after purchasing an additional 25 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its stake in Cummins by 3.2% during the third quarter. Bridges Investment Management Inc. now owns 845 shares of the company’s stock worth $357,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $592.64 on Thursday. The firm has a market capitalization of $81.88 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98. The stock’s 50 day moving average price is $555.11 and its 200 day moving average price is $474.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.16 earnings per share. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.3%. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Insider Transactions at Cummins

In related news, Director William I. Miller sold 18,107 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the transaction, the director owned 34,243 shares of the company’s stock, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Robert W. Baird set a $580.00 price objective on Cummins in a report on Friday, February 6th. Raymond James Financial boosted their target price on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Company 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.