Executive Wealth Management LLC Invests $9.54 Million in Cummins Inc. (NYSE:CMI)

Executive Wealth Management LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,458 shares of the company’s stock, valued at approximately $9,538,000.

A number of other institutional investors also recently made changes to their positions in the company. SGL Investment Advisors Inc. bought a new stake in shares of Cummins during the third quarter worth approximately $6,069,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Cummins by 4.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 40,826 shares of the company’s stock worth $13,219,000 after acquiring an additional 1,732 shares during the period. MML Investors Services LLC boosted its holdings in shares of Cummins by 4.9% during the third quarter. MML Investors Services LLC now owns 16,154 shares of the company’s stock worth $5,231,000 after acquiring an additional 758 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Cummins by 7.7% during the third quarter. Orion Portfolio Solutions LLC now owns 10,748 shares of the company’s stock worth $3,480,000 after acquiring an additional 770 shares during the period. Finally, Zacks Investment Management boosted its stake in shares of Cummins by 61.6% in the third quarter. Zacks Investment Management now owns 2,375 shares of the company’s stock valued at $769,000 after buying an additional 905 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last three months. Company insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.1 %

Shares of NYSE:CMI opened at $383.61 on Tuesday. The company has a fifty day moving average of $349.67 and a 200-day moving average of $311.38. The company has a market capitalization of $52.62 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $4.73 earnings per share. On average, equities analysts predict that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. The ex-dividend date was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 1.90%. Cummins’s payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

CMI has been the subject of several recent research reports. Robert W. Baird boosted their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a research note on Monday. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Finally, Citigroup upped their target price on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $352.85.

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.