WealthBridge Capital Management LLC Buys Shares of 838 Cummins Inc. (NYSE:CMI)

WealthBridge Capital Management LLC bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 838 shares of the company's stock, valued at approximately $263,000.

Several other institutional investors also recently bought and sold shares of CMI. Meeder Asset Management Inc. increased its position in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Cummins in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Cummins in the fourth quarter valued at about $30,000. Capital A Wealth Management LLC acquired a new position in shares of Cummins in the fourth quarter valued at about $32,000. Finally, Providence First Trust Co acquired a new position in shares of Cummins in the fourth quarter valued at about $35,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and increased their price objective for the company from $410.00 to $431.00 in a report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. 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. Citigroup reissued a "buy" rating and issued a $360.00 price objective (up from $350.00) on shares of Cummins in a report on Tuesday. Finally, Evercore ISI lowered their target price on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Cummins currently has a consensus rating of "Hold" and a consensus target price of $358.08.

Insiders Place Their Bets

In other news, Director John H. Stone bought 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were acquired at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the transaction, the director now directly owns 2,441 shares in the company, valued at $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of CMI stock opened at $326.06 on Friday. The company has a market capitalization of $44.92 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.95 and a beta of 1.04. The business's 50 day moving average is $314.95 and its two-hundred day moving average is $332.93. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.92 by $1.04. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. Cummins's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.08 earnings per share. Analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a dividend of $1.82 per share. The ex-dividend date was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.23%. Cummins's dividend payout ratio is currently 36.22%.

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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