Focus Partners Advisor Solutions LLC Purchases 2,003 Shares of Cummins Inc. $CMI

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Cummins Inc. by **80%** in the first quarter, bringing its total holdings to 4,507 shares worth approximately **$1.41 million**.
• Cummins recently reported earnings per share of **$6.43**, exceeding analysts' expectations by **$1.22**, though revenue decreased by **1.7%** compared to the previous year.
• The company has raised its quarterly dividend from **$1.82** to **$2.00** per share, indicating a positive outlook for investors with an annual yield of **2.0%**.

Focus Partners Advisor Solutions LLC increased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 80.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,507 shares of the company's stock after buying an additional 2,003 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Cummins were worth $1,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Vanguard Group Inc. lifted its holdings in Cummins by 1.9% during the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company's stock valued at $5,417,331,000 after purchasing an additional 321,823 shares during the last quarter. Northern Trust Corp raised its stake in Cummins by 1.2% in the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company's stock valued at $597,170,000 after purchasing an additional 22,202 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cummins by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,093 shares of the company's stock valued at $566,856,000 after purchasing an additional 99,009 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Cummins by 152.3% during the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company's stock worth $424,414,000 after acquiring an additional 817,384 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Cummins by 3.7% in the 4th quarter. Royal Bank of Canada now owns 1,271,279 shares of the company's stock valued at $443,169,000 after purchasing an additional 44,907 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 0.2%

NYSE:CMI traded down $0.80 on Friday, reaching $400.13. 864,159 shares of the stock traded hands, compared to its average volume of 706,473. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.93 and a beta of 1.02. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $408.38. The company's fifty day simple moving average is $370.88 and its 200 day simple moving average is $336.01.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.21 by $1.22. The business had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.45 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. Cummins's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $5.26 EPS. Equities analysts predict 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. Shareholders of record on Friday, August 22nd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, August 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from Cummins's previous quarterly dividend of $1.82. Cummins's dividend payout ratio (DPR) is 37.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CMI shares. Robert W. Baird upped their price objective on shares of Cummins from $315.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Wells Fargo & Company raised Cummins to an "overweight" rating in a research note on Monday, August 11th. Evercore ISI reissued an "outperform" rating on shares of Cummins in a research note on Tuesday, August 19th. Melius upgraded shares of Cummins from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $389.29.

Insider Buying and Selling at Cummins

In related news, VP Robert Enright sold 1,860 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president owned 955 shares of the company's stock, valued at approximately $384,158.30. This trade represents a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Amy Rochelle Davis sold 5,002 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the completion of the transaction, the vice president directly owned 20,738 shares in the company, valued at approximately $8,354,925.44. The trade was a 19.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,039 shares of company stock worth $10,385,075. 0.41% of the stock is owned by company insiders.

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.