Expressive Wealth LLC Purchases Shares of 1,289 Cummins Inc. $CMI

Expressive Wealth LLC purchased a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,289 shares of the company’s stock, valued at approximately $658,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CMI. Brighton Jones LLC grew its position in Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Cummins by 40.8% in 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 last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Cummins by 2.8% in 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 last quarter. ICW Investment Advisors LLC bought a new position in shares of Cummins in the second quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Cummins in the second quarter worth approximately $31,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of CMI stock opened at $668.64 on Wednesday. The stock has a fifty day moving average of $616.71 and a 200 day moving average of $566.52. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The firm has a market capitalization of $92.27 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 1.58 and a beta of 1.27. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

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

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CMI shares. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Argus set a $696.00 target price on shares of Cummins in a report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average target price of $700.50.

Insider Buying and Selling at Cummins

In other news, VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction dated 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 transaction, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. The trade was a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the transaction, the vice president directly owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,633 shares of company stock valued at $11,653,357. Company insiders own 0.30% of the company’s stock.

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.