Wealthcare Advisory Partners LLC Boosts Holdings in Cummins Inc. (NYSE:CMI)

Wealthcare Advisory Partners LLC boosted its position in Cummins Inc. (NYSE:CMI) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,807 shares of the company’s stock after buying an additional 255 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cummins were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after buying an additional 250,650 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cummins by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock worth $1,174,504,000 after purchasing an additional 84,112 shares during the period. Fisher Asset Management LLC grew its stake in shares of Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock worth $1,071,059,000 after purchasing an additional 66,887 shares during the period. Northern Trust Corp grew its stake in shares of Cummins by 15.1% during the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock worth $656,418,000 after purchasing an additional 246,807 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cummins by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,093 shares of the company’s stock worth $566,856,000 after purchasing an additional 99,009 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

NYSE:CMI opened at $324.40 on Friday. The firm has a market cap of $44.69 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $306.95 and its two-hundred day moving average is $337.31. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the prior year, the company posted $5.08 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Cummins from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Wall Street Zen lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Robert W. Baird decreased their price objective on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $357.25.

Insider Activity at Cummins

In other Cummins news, Director John H. Stone bought 1,000 shares of Cummins stock in a transaction that occurred on 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 acquisition, the director now owns 2,441 shares of the company’s stock, valued at $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

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.