Wealth Enhancement Advisory Services LLC Has $28.49 Million Stock Position in Cummins Inc. $CMI

Wealth Enhancement Advisory Services LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,065 shares of the company’s stock after acquiring an additional 905 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cummins were worth $28,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gilbert & Cook Inc. boosted its position in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock valued at $947,000 after buying an additional 19 shares during the last quarter. United Capital Management of KS Inc. raised its holdings in shares of Cummins by 2.0% in the third quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock valued at $485,000 after purchasing an additional 22 shares during the last quarter. Betterment LLC boosted its holdings in Cummins by 3.5% during the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after purchasing an additional 23 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in Cummins by 0.4% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock worth $2,499,000 after purchasing an additional 24 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Cummins by 0.9% during the 3rd quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock worth $1,154,000 after buying an additional 24 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In other news, Director William I. Miller sold 18,107 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 31,195 shares of company stock valued at $18,397,489. Company insiders own 0.41% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $553.80 on Wednesday. The company’s 50 day moving average is $573.30 and its 200-day moving average is $503.75. The firm has a market cap of $76.51 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last issued its earnings results 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. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the previous year, the firm posted $5.16 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.4%. Cummins’s dividend payout ratio is currently 38.99%.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. UBS Group set a $565.00 target price on Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Morgan Stanley reiterated an “overweight” rating and set a $675.00 target price on shares of Cummins in a research note on Friday, February 6th. Citigroup increased their price target on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Truist Financial reaffirmed a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Finally, Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

About Cummins

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.