DMKC Advisory Services LLC Has $4.12 Million Position in Cummins Inc. $CMI

Key Points

• DMKC Advisory Services LLC increased its position in Cummins Inc. by 108.3% in the second quarter, owning $4.12 million in shares after acquiring an additional 6,147 shares.
• Insiders at Cummins sold a total of 35,119 shares valued at approximately $14.16 million over the past three months, indicating significant trading activity among company executives.
• Cummins recently raised its quarterly dividend from $1.82 to $2.00, marking an annualized yield of 1.9% for investors.

DMKC Advisory Services LLC raised its position in Cummins Inc. (NYSE:CMI - Free Report) by 108.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,821 shares of the company's stock after acquiring an additional 6,147 shares during the quarter. Cummins makes up about 2.1% of DMKC Advisory Services LLC's investment portfolio, making the stock its 15th largest holding. DMKC Advisory Services LLC's holdings in Cummins were worth $4,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CMI. McGuire Investment Group LLC boosted its stake in shares of Cummins by 5.2% during the 2nd quarter. McGuire Investment Group LLC now owns 19,109 shares of the company's stock worth $6,258,000 after acquiring an additional 945 shares during the period. Pure Financial Advisors LLC bought a new position in shares of Cummins during the 2nd quarter worth approximately $247,000. Woodward Diversified Capital LLC acquired a new stake in Cummins during the 2nd quarter valued at $402,000. Trilogy Capital Inc. lifted its holdings in Cummins by 6.9% during the 2nd quarter. Trilogy Capital Inc. now owns 8,849 shares of the company's stock valued at $2,898,000 after purchasing an additional 574 shares during the last quarter. Finally, QTR Family Wealth LLC acquired a new stake in Cummins during the 2nd quarter valued at $202,000. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the sale, the director owned 5,227 shares of the company's stock, valued at approximately $2,118,659.91. This trade represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert Enright sold 1,860 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the completion of the sale, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. This represents a 66.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,119 shares of company stock valued at $14,159,885 over the last three months. 0.41% of the stock is owned by corporate insiders.

Cummins Price Performance

Cummins stock opened at $424.85 on Thursday. The stock's fifty day moving average price is $398.13 and its two-hundred day moving average price is $344.32. Cummins Inc. has a one year low of $260.02 and a one year high of $432.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. The firm has a market cap of $58.54 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period in the prior year, the firm posted $5.26 EPS. Cummins's quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Cummins's previous quarterly dividend of $1.82. The ex-dividend date of this dividend was Friday, August 22nd. Cummins's payout ratio is 37.61%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMI. Robert W. Baird increased their price objective on shares of Cummins from $315.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Melius upgraded shares of Cummins from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, September 3rd. Citigroup boosted their price objective on Cummins from $425.00 to $485.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Evercore ISI reissued an "outperform" rating on shares of Cummins in a report on Tuesday, August 19th. Finally, Wells Fargo & Company raised Cummins to an "overweight" rating in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $393.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.