Focus Partners Advisor Solutions LLC Has $2.46 Million Stock Holdings in Cummins Inc. $CMI

Focus Partners Advisor Solutions LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 42.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,339 shares of the company’s stock after buying an additional 1,595 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Cummins were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CMI. Stock Yards Bank & Trust Co. increased its holdings in shares of 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 purchasing an additional 24 shares during the period. Whittier Trust Co. boosted its stake in shares of Cummins by 0.9% during the 3rd quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock valued at $1,154,000 after buying an additional 24 shares during the period. Howard Capital Management Inc. boosted its stake in shares of Cummins by 2.9% during the 3rd quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock valued at $365,000 after buying an additional 24 shares during the period. BNP Paribas grew its holdings in shares of Cummins by 1.8% during the 2nd quarter. BNP Paribas now owns 1,422 shares of the company’s stock valued at $466,000 after acquiring an additional 25 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in shares of Cummins by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 845 shares of the company’s stock worth $357,000 after acquiring an additional 26 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Barclays increased their price objective on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. UBS Group set a $565.00 price objective on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $588.93.

Cummins Stock Performance

NYSE:CMI opened at $574.08 on Thursday. The firm has a market capitalization of $79.32 billion, a PE ratio of 27.98, a PEG ratio of 1.77 and a beta of 1.12. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $617.98. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $569.66 and its 200 day simple moving average is $488.64.

Cummins (NYSE:CMI) last released its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion during 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 revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.4%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Insider Buying and Selling

In related news, VP Earl Newsome sold 1,300 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the transaction, the vice president owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Mary Bush sold 4,270 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the sale, the vice president directly owned 15,130 shares of the company’s stock, valued at approximately $8,849,990.90. This trade represents a 22.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is currently owned by company insiders.

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.