Cummins Inc. $CMI Shares Purchased by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC raised its stake in Cummins by 146% in Q4, buying 2,418 shares to hold 4,074 shares worth about $2.079 million.
• Other institutional activity included M&T Bank increasing its position to 57,828 shares (≈$29.52M), and institutional investors collectively own 83.46% of Cummins.
• Company insiders have been net sellers, disposing of 31,195 shares worth roughly $18.4 million in the last 90 days (including an 18,107‑share sale by Director William Miller), leaving insiders with just 0.30% ownership.

Kingswood Wealth Advisors LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 146.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,074 shares of the company's stock after purchasing an additional 2,418 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Cummins were worth $2,079,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Columbia Asset Management purchased a new stake in shares of Cummins in the fourth quarter valued at $204,000. Hobbs Group Advisors LLC increased its stake in Cummins by 24.8% in the fourth quarter. Hobbs Group Advisors LLC now owns 2,630 shares of the company's stock valued at $1,342,000 after purchasing an additional 522 shares during the last quarter. M&T Bank Corp increased its stake in Cummins by 50.8% in the fourth quarter. M&T Bank Corp now owns 57,828 shares of the company's stock valued at $29,518,000 after purchasing an additional 19,483 shares during the last quarter. TABR Capital Management LLC acquired a new position in Cummins in the fourth quarter valued at $625,000. Finally, Optas LLC increased its stake in Cummins by 9.7% in the fourth quarter. Optas LLC now owns 1,201 shares of the company's stock valued at $613,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Transactions at Cummins

In related news, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the transaction, the director owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,195 shares of company stock valued at $18,397,489 in the last ninety days. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMI. Wall Street Zen lowered Cummins from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Truist Financial upped their target price on Cummins from $703.00 to $730.00 and gave the company a "buy" rating in a research note on Monday. Argus set a $696.00 target price on Cummins in a research note on Tuesday, February 10th. JPMorgan Chase & Co. upped their target price on Cummins from $485.00 to $580.00 and gave the company a "neutral" rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company upped their target price on Cummins from $630.00 to $693.00 and gave the company an "overweight" rating in a research note on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $600.27.

Cummins Price Performance

Shares of Cummins stock opened at $639.49 on Thursday. Cummins Inc. has a twelve month low of $282.77 and a twelve month high of $650.37. The stock has a market capitalization of $88.36 billion, a P/E ratio of 31.16, a PEG ratio of 2.02 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. The business's fifty day moving average price is $573.84 and its 200 day moving average price is $527.35.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results 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 firm had revenue of $8.54 billion for the quarter, compared to analysts' expectations of $8.09 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Cummins Inc. will post 26.03 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a $2.00 dividend. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. Cummins's dividend payout ratio (DPR) is presently 38.99%.

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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