Cummins Inc. (NYSE:CMI) Shares Bought by Transform Wealth LLC

Transform Wealth LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,084 shares of the company's stock after purchasing an additional 3,800 shares during the quarter. Transform Wealth LLC's holdings in Cummins were worth $13,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. BankPlus Trust Department purchased a new position in Cummins during the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its stake in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 52 shares during the last quarter. TCTC Holdings LLC acquired a new position in Cummins in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new position in Cummins in the 4th quarter valued at $30,000. Finally, Capital A Wealth Management LLC acquired a new stake in Cummins during the 4th quarter worth $32,000. Institutional investors own 83.46% of the company's stock.

Insider Transactions at Cummins

In other Cummins news, Director John H. Stone purchased 1,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the purchase, the director now directly owns 2,441 shares in the company, valued at approximately $810,607.28. This represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMI. The Goldman Sachs Group raised shares of 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 note on Tuesday, May 27th. Citigroup upped their target price on Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, May 12th. UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and cut their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Truist Financial lowered their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Wall Street Zen cut shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cummins currently has an average rating of "Hold" and an average price target of $357.25.

Cummins Trading Up 0.0%

Shares of CMI stock traded up $0.11 on Thursday, hitting $323.69. The stock had a trading volume of 204,275 shares, compared to its average volume of 793,580. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $387.90. The company's 50 day moving average price is $305.97 and its 200-day moving average price is $337.67. The firm has a market capitalization of $44.59 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping the consensus estimate of $4.92 by $1.04. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.08 earnings per share. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, May 23rd. Cummins's dividend payout ratio is currently 36.22%.

Cummins Profile

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.