Waldron Private Wealth LLC Purchases 54 Shares of Cummins Inc. (NYSE:CMI)

Waldron Private Wealth LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,130 shares of the company’s stock after acquiring an additional 54 shares during the period. Waldron Private Wealth LLC’s holdings in Cummins were worth $270,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CMI. Synovus Financial Corp increased its stake in Cummins by 254.4% during the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,378 shares during the period. Cibc World Market Inc. increased its stake in shares of Cummins by 65.4% in the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after purchasing an additional 7,191 shares during the last quarter. Sei Investments Co. increased its stake in shares of Cummins by 16.1% in the 1st quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after purchasing an additional 13,058 shares during the last quarter. Prudential PLC bought a new position in shares of Cummins in the 1st quarter valued at $711,000. Finally, Cetera Investment Advisers increased its stake in shares of Cummins by 43.0% in the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock valued at $1,313,000 after purchasing an additional 1,925 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel William Fisher bought 562 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMI. JPMorgan Chase & Co. lifted their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Truist Financial began coverage on Cummins in a report on Thursday, March 14th. They set a “hold” rating and a $303.00 price objective on the stock. Morgan Stanley began coverage on Cummins in a report on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective on the stock. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, TD Cowen raised their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Performance

CMI stock opened at $294.58 on Wednesday. The stock has a 50-day moving average price of $277.85 and a 200-day moving average price of $247.32. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The firm has a market cap of $40.29 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 2.03 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the business posted $4.52 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.