Cummins Inc. $CMI Shares Purchased by Comprehensive Financial Consultants Institutional Inc.

Key Points

• Comprehensive Financial Consultants Institutional Inc. boosted its stake in Cummins by 643% in Q4, adding 6,327 shares to hold 7,311 shares worth about $3.73M, making CMI 1.1% of the fund's holdings and its 29th-largest position.
• Insider selling has been notable recently: Director William I. Miller sold 18,107 shares (~$10.8M) and VP Amy Rochelle Davis sold 4,054 shares, with insiders selling 31,195 shares (~$18.4M) over the past 90 days (insiders now own 0.30%).
• Cummins beat Q4 expectations with $5.81 EPS and $8.54B revenue, pays a $2.00 quarterly dividend (annualized $8.00, yield ~1.2%), and the stock trades near its 52-week high (~$660) with a market cap of about $91.3B.

Comprehensive Financial Consultants Institutional Inc. lifted its position in Cummins Inc. (NYSE:CMI - Free Report) by 643.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,311 shares of the company's stock after acquiring an additional 6,327 shares during the period. Cummins accounts for 1.1% of Comprehensive Financial Consultants Institutional Inc.'s holdings, making the stock its 29th largest position. Comprehensive Financial Consultants Institutional Inc.'s holdings in Cummins were worth $3,732,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC lifted its position in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock worth $1,908,000 after buying an additional 18 shares in the last quarter. Financial Consulate Inc. raised its position in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after purchasing an additional 18 shares during the period. Gilbert & Cook Inc. raised its position in Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock valued at $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC raised its holdings in shares of Cummins by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company's stock valued at $501,000 after buying an additional 20 shares during the period. Finally, Red Door Wealth Management LLC raised its holdings in shares of Cummins by 2.3% in the 4th quarter. Red Door Wealth Management LLC now owns 878 shares of the company's stock valued at $448,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Buying and Selling at Cummins

In other news, Director William I. Miller sold 18,107 shares of the firm's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the sale, the director owned 34,243 shares in the company, valued at $20,446,495.30. This trade represents a 34.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the firm's stock in a transaction on 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 in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,195 shares of company stock valued at $18,397,489. 0.30% of the stock is currently owned by insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $660.83 on Monday. The business's fifty day moving average price is $576.44 and its two-hundred day moving average price is $531.12. The stock has a market cap of $91.30 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a one year low of $284.23 and a one year high of $663.38.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts' consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to analysts' expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 EPS. On average, analysts forecast that Cummins Inc. will post 26.03 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed 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 1.2%. Cummins's dividend payout ratio (DPR) is 38.99%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zacks Research cut Cummins from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. Truist Financial upped their price objective on Cummins from $703.00 to $730.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Robert W. Baird set a $580.00 target price on Cummins in a report on Friday, February 6th. Barclays upped their price objective on Cummins from $546.00 to $610.00 and gave the company an "overweight" rating in a research note on Friday, January 23rd. Finally, Wolfe Research downgraded Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 target price for the company. in a research note on Monday, January 26th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $600.27.

About Cummins

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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