Caerus Investment Advisors LLC Buys New Position in Cummins Inc. $CMI

Caerus Investment Advisors LLC purchased a new position in Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,176 shares of the company’s stock, valued at approximately $497,000.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Cummins during the 3rd quarter valued at $28,000. Osterweis Capital Management Inc. purchased a new stake in shares of Cummins in the 2nd quarter worth about $31,000. Guerra Advisors Inc bought a new stake in shares of Cummins during the 3rd quarter valued at about $36,000. Salomon & Ludwin LLC increased its position in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Cummins during the third quarter valued at about $37,000. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares in the company, valued at approximately $1,978,057.63. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $2,275,672.36. Following the completion of the transaction, the vice president directly owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,195 shares of company stock worth $18,397,489 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

CMI has been the subject of several research analyst reports. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Wells Fargo & Company raised their target price on Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Morgan Stanley restated an “overweight” rating and set a $675.00 price target on shares of Cummins in a research report on Friday, February 6th. Finally, UBS Group set a $565.00 price target on Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Stock Performance

Shares of CMI opened at $543.56 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $75.10 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.73 and a beta of 1.12. The business’s 50 day moving average price is $574.30 and its 200-day moving average price is $498.61. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter last year, the company earned $5.16 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal 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 issued 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 1.5%. Cummins’s dividend payout ratio (DPR) is presently 38.99%.

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.