Twelve Points Wealth Management LLC Has $1.03 Million Position in Cummins Inc. (NYSE:CMI)

Twelve Points Wealth Management LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,166 shares of the company’s stock after purchasing an additional 190 shares during the period. Twelve Points Wealth Management LLC’s holdings in Cummins were worth $1,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMI. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Cummins by 3.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,586 shares of the company’s stock valued at $7,637,000 after purchasing an additional 773 shares in the last quarter. Transform Wealth LLC boosted its stake in Cummins by 2.1% in the third quarter. Transform Wealth LLC now owns 35,995 shares of the company’s stock valued at $11,655,000 after buying an additional 730 shares in the last quarter. Jamison Private Wealth Management Inc. grew its position in Cummins by 152.0% in the third quarter. Jamison Private Wealth Management Inc. now owns 988 shares of the company’s stock valued at $320,000 after acquiring an additional 596 shares during the last quarter. QV Investors Inc. raised its stake in Cummins by 0.6% during the third quarter. QV Investors Inc. now owns 19,695 shares of the company’s stock worth $6,377,000 after acquiring an additional 110 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in shares of Cummins by 3.9% in the third quarter. Foster Victor Wealth Advisors LLC now owns 29,125 shares of the company’s stock worth $9,700,000 after acquiring an additional 1,080 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

Shares of CMI opened at $333.88 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $311.09 and its two-hundred day simple moving average is $294.29. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $339.78. The stock has a market capitalization of $45.67 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.18 EPS. As a group, analysts predict that Cummins Inc. will post 19.77 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.18%. Cummins’s payout ratio is presently 53.29%.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CMI. Raymond James began coverage on shares of Cummins in a report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup boosted their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI upped their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cummins currently has a consensus rating of “Hold” and an average target price of $311.55.

Cummins Company 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.