IHT Wealth Management LLC Boosts Stock Holdings in Cummins Inc. (NYSE:CMI)

IHT Wealth Management LLC raised its stake in Cummins Inc. (NYSE:CMI – Get Rating) by 66.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,495 shares of the company’s stock after buying an additional 1,795 shares during the period. IHT Wealth Management LLC’s holdings in Cummins were worth $915,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. West Financial Advisors LLC purchased a new position in Cummins in the third quarter valued at about $26,000. Stonebridge Capital Advisors LLC increased its holdings in Cummins by 64.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 164 shares of the company’s stock valued at $33,000 after buying an additional 64 shares in the last quarter. Ten Capital Wealth Advisors LLC purchased a new position in Cummins in the third quarter valued at about $35,000. Castle Wealth Management LLC increased its holdings in Cummins by 125.0% in the third quarter. Castle Wealth Management LLC now owns 180 shares of the company’s stock valued at $37,000 after buying an additional 100 shares in the last quarter. Finally, New Millennium Group LLC purchased a new position in Cummins in the second quarter valued at about $39,000. 80.94% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Down 2.9 %

CMI stock opened at $225.21 on Friday. The stock has a market capitalization of $31.84 billion, a P/E ratio of 14.90, a PEG ratio of 1.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.27. Cummins Inc. has a one year low of $184.27 and a one year high of $261.91. The company has a 50 day moving average price of $247.59 and a two-hundred day moving average price of $237.06.

Cummins (NYSE:CMI – Get Rating) last released its earnings results on Monday, February 6th. The company reported $4.52 EPS for the quarter, hitting the consensus estimate of $4.52. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Cummins had a net margin of 7.66% and a return on equity of 24.58%. Cummins’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.85 EPS. As a group, sell-side analysts expect that Cummins Inc. will post 18.95 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Friday, February 24th were paid a dividend of $1.57 per share. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $6.28 annualized dividend and a dividend yield of 2.79%. Cummins’s dividend payout ratio is presently 41.56%.

Insider Activity

In other news, Director Georgia R. Nelson sold 1,933 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total transaction of $486,420.12. Following the completion of the sale, the director now directly owns 21,742 shares of the company’s stock, valued at approximately $5,471,156.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sharon R. Barner sold 5,929 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $257.13, for a total transaction of $1,524,523.77. Following the completion of the sale, the vice president now directly owns 16,144 shares of the company’s stock, valued at approximately $4,151,106.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Georgia R. Nelson sold 1,933 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total transaction of $486,420.12. Following the sale, the director now directly owns 21,742 shares of the company’s stock, valued at $5,471,156.88. The disclosure for this sale can be found here. Insiders sold 16,709 shares of company stock valued at $4,245,545 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMI. UBS Group increased their target price on shares of Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Credit Suisse Group lifted their price objective on Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Cummins from $235.00 to $231.00 and set a “hold” rating for the company in a research report on Tuesday, February 7th. Morgan Stanley cut their price objective on Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Finally, StockNews.com began coverage on Cummins in a research report on Thursday. They set a “buy” rating for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $254.75.

About Cummins

(Get Rating)

Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.