119 Shares in Cummins Inc. (NYSE:CMI) Purchased by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 119 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMI. Vanguard Group Inc. boosted its stake in shares of 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 period. Geode Capital Management LLC boosted its stake in shares of Cummins by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock valued at $1,174,504,000 after buying an additional 84,112 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Cummins by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock valued at $1,071,059,000 after buying an additional 66,887 shares during the period. Northern Trust Corp boosted its stake in shares of Cummins by 15.1% in the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock valued at $656,418,000 after buying an additional 246,807 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cummins by 6.5% in 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 valued at $566,856,000 after buying 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

Cummins stock opened at $322.20 on Tuesday. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The business has a 50 day simple moving average of $309.15 and a 200-day simple moving average of $336.07. The stock has a market capitalization of $44.38 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, May 23rd. Cummins’s dividend payout ratio is presently 36.22%.

Analysts Set New Price Targets

Several research firms recently weighed in on CMI. JPMorgan Chase & Co. boosted their target price on Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Morgan Stanley boosted their target price on Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upgraded Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $410.00 to $431.00 in a research note on Tuesday, May 27th. Citigroup boosted their target price on Cummins from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Evercore ISI decreased their target price on Cummins from $451.00 to $419.00 and set an “outperform” rating for the company 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $357.25.

Insider Buying and Selling

In other Cummins news, Director John H. Stone acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the acquisition, the director now directly owns 2,441 shares of the company’s stock, valued at approximately $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

About Cummins

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.