GoalVest Advisory LLC Has $83,000 Holdings in Cummins Inc. $CMI

Key Points

• GoalVest Advisory sharply reduced its Cummins stake by 96.1% in the second quarter, selling 2,851 shares and retaining 117 shares valued at approximately $83,000. Institutional investors and hedge funds still own 83.46% of the company.
• Cummins reported quarterly EPS of $6.73, missing analysts’ $7.21 estimate, while revenue reached $9.46 billion and rose 9.4% year over year. Shares opened at $644.21, below their 50-day moving average but above their 200-day average.
• The company raised its quarterly dividend from $2.00 to $2.20 per share, implying an annualized dividend of $8.80 and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $745.64, while insiders sold roughly $5.36 million of stock over the past 90 days.

GoalVest Advisory LLC cut its stake in Cummins Inc. (NYSE:CMI - Free Report) by 96.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117 shares of the company's stock after selling 2,851 shares during the period. GoalVest Advisory LLC's holdings in Cummins were worth $83,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Activest Wealth Management increased its stake in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company's stock valued at $26,000 after acquiring an additional 43 shares during the period. Cedar Mountain Advisors LLC grew its holdings in shares of Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company's stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins during the fourth quarter valued at approximately $27,000. Key Financial Inc raised its stake in shares of Cummins by 62.5% in the first quarter. Key Financial Inc now owns 52 shares of the company's stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Birchwood Financial Partners Inc. bought a new position in Cummins in the fourth quarter worth $28,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Up 0.0%

Shares of NYSE:CMI opened at $644.21 on Friday. The company's fifty day moving average is $668.83 and its 200-day moving average is $625.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.73. Cummins Inc. has a 52 week low of $383.90 and a 52 week high of $737.76. The company has a market capitalization of $88.68 billion, a PE ratio of 32.92, a P/E/G ratio of 1.57 and a beta of 1.24.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.43 earnings per share. Equities research analysts predict that Cummins Inc. will post 29.73 earnings per share for the current fiscal year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Cummins's previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins's dividend payout ratio is presently 40.88%.

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the transaction, the vice president owned 11,986 shares of the company's stock, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the sale, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,690 shares of company stock worth $5,360,654 over the last ninety days. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on CMI shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Cummins in a report on Monday, August 3rd. Wells Fargo & Company lifted their target price on shares of Cummins from $794.00 to $874.00 and gave the company an "overweight" rating in a research report on Wednesday, June 17th. Citigroup increased their price target on shares of Cummins from $770.00 to $790.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Evercore restated an "outperform" rating and set a $845.00 price target on shares of Cummins in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price objective on Cummins from $600.00 to $725.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $745.64.

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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