Level Four Advisory Services LLC Buys 734 Shares of Cummins Inc. $CMI

Key Points

• Level Four Advisory Services LLC increased its stake in Cummins Inc. by 3.5%, acquiring an additional 734 shares, bringing their total holdings to 21,438 shares valued at $6,720,000.
• Several institutional investors have also raised their positions in Cummins, with notable increases from Tower Research Capital LLC (24.6% raise) and Kayne Anderson Rudnick Investment Management LLC (9.3% raise).
• Cummins announced a quarterly dividend increase from $1.82 to $2.00 per share, representing an annual payout of $8.00 and a yield of 2.0%.

Level Four Advisory Services LLC lifted its stake in Cummins Inc. (NYSE:CMI - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,438 shares of the company's stock after acquiring an additional 734 shares during the period. Level Four Advisory Services LLC's holdings in Cummins were worth $6,720,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CMI. Brighton Jones LLC boosted its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock valued at $736,000 after buying an additional 83 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Cummins by 3.2% in the 4th quarter. MML Investors Services LLC now owns 16,663 shares of the company's stock worth $5,809,000 after purchasing an additional 509 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Cummins by 9.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,847 shares of the company's stock worth $3,084,000 after buying an additional 752 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Cummins during the fourth quarter worth about $50,000. Finally, Tower Research Capital LLC TRC increased its stake in Cummins by 24.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company's stock valued at $2,165,000 after purchasing an additional 1,225 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

Insiders Place Their Bets

In related news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the completion of the transaction, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Mary Bush sold 520 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $388.13, for a total value of $201,827.60. Following the transaction, the vice president owned 15,130 shares in the company, valued at $5,872,406.90. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,872 shares of company stock worth $9,107,105 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CMI. Wolfe Research raised Cummins from a "hold" rating to an "outperform" rating in a research report on Monday, August 11th. Morgan Stanley increased their price objective on Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Robert W. Baird upped their target price on Cummins from $315.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Truist Financial increased their price target on shares of Cummins from $342.00 to $380.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Finally, Barclays lifted their price objective on shares of Cummins from $381.00 to $387.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $370.83.

Cummins Trading Up 0.1%

Cummins stock opened at $402.18 on Wednesday. The firm has a market cap of $55.42 billion, a PE ratio of 18.91, a P/E/G ratio of 1.96 and a beta of 1.02. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $408.38. The stock's 50 day simple moving average is $350.54 and its two-hundred day simple moving average is $333.52. 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 (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The firm had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the previous year, the firm earned $5.26 EPS. The business's quarterly revenue was down 1.7% on a year-over-year basis. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be given a dividend of $2.00 per share. This is a boost from Cummins's previous quarterly dividend of $1.82. The ex-dividend date is Friday, August 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.0%. Cummins's payout ratio is 34.23%.

Cummins Company 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.

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