Cummins Inc. $CMI Stock: CWS Financial Advisors LLC Grows Holdings

Key Points

• CWS Financial Advisors increased its Cummins stake by 973.2% in the third quarter, bringing its holdings to 4,733 shares worth approximately $2.45 million. Institutional investors collectively own 83.46% of the company.
• Analysts maintain a positive outlook, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $708.18.
• Cummins reported quarterly revenue of $9.46 billion, up 9.4% year over year, though EPS of $6.73 missed estimates. The company declared a quarterly dividend of $2.20, equivalent to an annualized yield of about 1.7%.

CWS Financial Advisors LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 973.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,733 shares of the company's stock after acquiring an additional 4,292 shares during the quarter. CWS Financial Advisors LLC's holdings in Cummins were worth $2,445,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Cummins in the 2nd quarter valued at about $8,204,241,000. Bank of America Corp DE acquired a new position in shares of Cummins during the 2nd quarter worth approximately $1,408,353,000. Bank of New York Mellon Corp bought a new position in shares of Cummins during the second quarter worth approximately $973,198,000. Legal & General Group Plc bought a new position in shares of Cummins during the second quarter worth approximately $666,635,000. Finally, Vontobel Holding Ltd. raised its position in shares of Cummins by 1,436.1% in the third quarter. Vontobel Holding Ltd. now owns 584,674 shares of the company's stock valued at $302,025,000 after buying an additional 546,613 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cummins

In other news, VP Earl Newsome sold 698 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares of the company's stock, valued at approximately $2,562,973.38. This represents a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Cummins from $894.00 to $779.00 and set a "buy" rating for the company in a research report on Monday, October 5th. Evercore reduced their price target on Cummins from $845.00 to $782.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. DA Davidson raised their price objective on Cummins from $605.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Sanford C. Bernstein restated a "market perform" rating and set a $700.00 price objective on shares of Cummins in a research note on Wednesday, August 5th. Finally, Morgan Stanley lifted their price objective on Cummins from $752.00 to $761.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of "Moderate Buy" and an average price target of $708.18.

Cummins Stock Down 0.4%

CMI stock opened at $530.72 on Friday. Cummins Inc. has a 52 week low of $405.82 and a 52 week high of $737.76. The business has a 50-day simple moving average of $555.86 and a 200 day simple moving average of $619.86. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The company has a market cap of $73.06 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.21 by ($0.48). Cummins had a return on equity of 25.29% and a net margin of 7.82%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same quarter in the previous year, the company earned $6.43 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Cummins Inc. will post 29.98 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be given a $2.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $8.80 annualized dividend and a dividend yield of 1.7%. Cummins's payout ratio is presently 44.97%.

Cummins Company Profile

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins' product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.

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