Concurrent Investment Advisors LLC Boosts Holdings in Cummins Inc. $CMI

Key Points

• Concurrent Investment Advisors LLC boosted its stake by 14.9% in Q4, buying 1,872 shares to own 14,447 Cummins shares worth about $7.38 million.
• Company insiders have been net sellers recently — 31,195 shares sold in the last 90 days (≈$18.4 million), including notable reductions by VPs Amy Rochelle Davis and Donald G. Jackson.
• Cummins recently beat estimates with EPS $5.81 vs $5.17 and $8.54B revenue, trades near its 12‑month high, pays a $2.00 quarterly dividend (~1.2% yield), and holds a consensus "Moderate Buy" rating (average target ~$600.27).

Concurrent Investment Advisors LLC lifted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 14.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,447 shares of the company's stock after buying an additional 1,872 shares during the period. Concurrent Investment Advisors LLC's holdings in Cummins were worth $7,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in Cummins by 2.8% during the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company's stock worth $1,422,121,000 after acquiring an additional 91,956 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cummins by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company's stock valued at $649,280,000 after purchasing an additional 7,372 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Cummins by 4.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company's stock worth $640,090,000 after purchasing an additional 64,822 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cummins by 50.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company's stock worth $612,715,000 after purchasing an additional 488,430 shares during the period. Finally, Boston Partners acquired a new stake in shares of Cummins during the 3rd quarter worth about $473,471,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the 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 sale, the vice president owned 15,807 shares of the company's stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares of the company's stock, valued at $4,329,337.82. The trade was a 18.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.30% of the stock is owned by company insiders.

Cummins Price Performance

CMI opened at $660.83 on Monday. The stock's 50-day moving average price is $576.44 and its 200 day moving average price is $531.12. Cummins Inc. has a 12-month low of $284.23 and a 12-month high of $663.38. The firm has a market cap of $91.30 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.09 and a beta of 1.14. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the business earned $5.16 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Cummins Inc. will post 26.03 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins's dividend payout ratio (DPR) is presently 38.99%.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent analyst reports. Robert W. Baird set a $580.00 target price on shares of Cummins in a research report on Friday, February 6th. Zacks Research cut shares of Cummins from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 28th. Wolfe Research downgraded shares of Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 price target on the stock. in a research note on Monday, January 26th. Wall Street Zen lowered shares of Cummins from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. Finally, UBS Group set a $565.00 price objective on shares of Cummins and gave the stock a "neutral" rating in a research report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Cummins presently has a consensus rating of "Moderate Buy" and an average price target of $600.27.

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.

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