QTR Family Wealth LLC Makes New $202,000 Investment in Cummins Inc. $CMI

Key Points

• QTR Family Wealth LLC has made a new investment of approximately $202,000 in Cummins Inc., acquiring 616 shares of the company's stock in the second quarter.
• Cummins recently reported $6.43 EPS for its quarterly earnings, exceeding analyst expectations, while its quarterly revenue was $8.64 billion, slightly above consensus estimates.
• Following a recent dividend increase to $2.00 per share, Cummins' dividend yield now stands at 1.9%, with a payout ratio of 37.61%.

QTR Family Wealth LLC bought a new position in Cummins Inc. (NYSE:CMI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 616 shares of the company's stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Olde Wealth Management LLC bought a new stake in shares of Cummins during the 1st quarter valued at about $30,000. Accredited Wealth Management LLC bought a new stake in shares of Cummins during the 1st quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Cummins during the 1st quarter valued at about $37,000. Richardson Financial Services Inc. bought a new stake in shares of Cummins during the 1st quarter valued at about $39,000. Finally, Costello Asset Management INC bought a new stake in shares of Cummins during the 1st quarter valued at about $40,000. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

Shares of Cummins stock opened at $424.85 on Thursday. The company 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 Inc. has a 52 week low of $260.02 and a 52 week high of $432.50. The business has a 50 day moving average price of $398.13 and a 200-day moving average price of $344.32. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53.

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

Cummins Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company upgraded Cummins to an "overweight" rating in a report on Monday, August 11th. Citigroup increased their price target on Cummins from $425.00 to $485.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Melius upgraded Cummins from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, September 3rd. Truist Financial increased their price target on Cummins from $342.00 to $380.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Finally, Melius Research upgraded Cummins from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, September 3rd. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cummins has an average rating of "Moderate Buy" and an average target price of $393.57.

Insider Activity at Cummins

In related news, VP Robert Enright sold 1,860 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total transaction of $748,203.60. Following the completion of the sale, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Amy Rochelle Davis sold 5,002 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total value of $2,015,205.76. Following the sale, the vice president directly owned 20,738 shares of the company's stock, valued at $8,354,925.44. The trade was a 19.43% decrease in their ownership of the stock. 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 in the last ninety days. Insiders own 0.41% of the company's stock.

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.

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