Alpha Cubed Investments LLC Invests $440,000 in Cummins Inc. (NYSE:CMI)

Alpha Cubed Investments LLC purchased a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,402 shares of the company's stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Meeder Asset Management Inc. increased its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. TCTC Holdings LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cummins during the fourth quarter valued at $30,000. Olde Wealth Management LLC purchased a new stake in shares of Cummins during the first quarter valued at $30,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $32,000. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other news, Director John H. Stone acquired 1,000 shares of Cummins stock in a transaction on Friday, May 16th. The shares were acquired at an average price of $332.08 per share, with a total value of $332,080.00. Following the purchase, the director directly owned 2,441 shares in the company, valued at $810,607.28. The trade was a 69.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by insiders.

Cummins Stock Performance

Shares of NYSE CMI traded up $2.90 during trading on Tuesday, hitting $330.75. The company had a trading volume of 891,179 shares, compared to its average volume of 774,371. The stock has a 50 day simple moving average of $320.19 and a 200 day simple moving average of $331.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The firm has a market capitalization of $45.56 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter last year, the company earned $5.08 earnings per share. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, May 23rd. Cummins's payout ratio is 36.22%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Robert W. Baird dropped their target price on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and raised their target price for the stock from $410.00 to $431.00 in a research report on Tuesday, May 27th. Finally, UBS Group cut Cummins from a "buy" rating to a "sell" rating and dropped their target price for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $358.08.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.