Cwm LLC Has $15.51 Million Position in Cummins Inc. $CMI

Key Points

• Cwm LLC increased its stake in Cummins by 7.6% to 30,378 shares, valued at about $15.51 million after adding 2,143 shares in Q4.
• Cummins beat Q4 expectations with EPS of $5.81 vs. $5.17 consensus and revenue of $8.54 billion vs. $8.09 billion, and it pays a quarterly dividend of $2.00 (annualized $8.00, ~1.3% yield).
• Analyst sentiment is largely positive with a consensus of Moderate Buy (11 Buys vs. 6 Holds) and an average price target of $598.47, with individual targets up to $703.00.

Cwm LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,378 shares of the company's stock after purchasing an additional 2,143 shares during the quarter. Cwm LLC's holdings in Cummins were worth $15,507,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

CMI has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on Cummins from $485.00 to $580.00 and gave the stock a "neutral" rating in a report on Wednesday, January 14th. Morgan Stanley reissued an "overweight" rating and set a $675.00 target price on shares of Cummins in a research report on Friday, February 6th. Barclays raised their price target on shares of Cummins from $546.00 to $610.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Wolfe Research lowered shares of Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 price objective on the stock. in a research note on Monday, January 26th. Finally, Truist Financial reissued a "buy" rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $598.47.

Cummins Stock Performance

NYSE CMI opened at $626.91 on Friday. The company has a fifty day moving average price of $571.31 and a 200-day moving average price of $522.99. The firm has a market cap of $86.61 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. Cummins Inc. has a 1 year low of $269.24 and a 1 year high of $628.00.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly 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 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 last year, the firm earned $5.16 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, February 20th. Cummins's payout ratio is presently 38.99%.

Insider Transactions at Cummins

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the business'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 transaction, the vice president owned 15,807 shares of the company's stock, valued at approximately $8,873,101.38. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the company's 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 of the company's stock, valued at $20,446,495.30. This trade represents a 34.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.30% of the stock is owned by insiders.

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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