1,395 Shares in Cummins Inc. $CMI Purchased by Williamson Legacy Group LLC

Williamson Legacy Group LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,395 shares of the company’s stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. Brighton Jones LLC grew its holdings in Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the period. Intech Investment Management LLC grew its holdings in Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the period. Treasurer of the State of North Carolina grew its holdings in Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after purchasing an additional 1,759 shares during the period. ICW Investment Advisors LLC bought a new position in Cummins during the second quarter worth about $225,000. Finally, Osterweis Capital Management Inc. bought a new position in Cummins during the second quarter worth about $31,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 4.5%

Shares of CMI stock opened at $668.64 on Wednesday. The firm has a 50 day moving average price of $616.71 and a two-hundred day moving average price of $566.52. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $92.27 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $5.96 earnings per share. As a group, analysts predict that Cummins Inc. will post 28.93 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 22nd. Cummins’s payout ratio is presently 41.52%.

Insider Buying and Selling

In other news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president directly owned 11,986 shares in the company, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,633 shares of company stock valued at $11,653,357 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup lifted their price target on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial lifted their price target on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus set a $696.00 price target on Cummins in a report on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $700.50.

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.