Fulcrum Wealth Advisors LLC Purchases Shares of 8,749 Cummins Inc. $CMI

Fulcrum Wealth Advisors LLC purchased a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,749 shares of the company's stock, valued at approximately $4,466,000. Cummins makes up approximately 3.7% of Fulcrum Wealth Advisors LLC's holdings, making the stock its 8th largest holding.

Other hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $26,000. Activest Wealth Management increased its stake in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company's stock worth $26,000 after buying an additional 43 shares during the last quarter. Ares Financial Consulting LLC bought a new stake in shares of Cummins in the fourth quarter worth $29,000. Holos Integrated Wealth LLC bought a new stake in shares of Cummins in the fourth quarter worth $32,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Cummins in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

CMI stock opened at $657.75 on Tuesday. The company has a market capitalization of $90.88 billion, a P/E ratio of 32.05, a PEG ratio of 2.08 and a beta of 1.27. The company has a 50-day simple moving average of $581.03 and a 200 day simple moving average of $537.79. Cummins Inc. has a fifty-two week low of $290.73 and a fifty-two week high of $674.75. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 earnings per share. Sell-side analysts predict that Cummins Inc. will post 26.05 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins's dividend payout ratio is presently 38.99%.

Insiders Place Their Bets

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the sale, the vice president directly owned 15,807 shares in the company, valued at approximately $8,873,101.38. The trade was a 20.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Earl Newsome sold 1,300 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Cummins from $630.00 to $710.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Weiss Ratings restated a "buy (b)" rating on shares of Cummins in a research note on Friday, April 10th. Barclays lifted their price target on shares of Cummins from $546.00 to $610.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the stock a "neutral" rating in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $600.27.

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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