Friedenthal Financial Invests $55,000 in Cummins Inc. (NYSE:CMI)

Friedenthal Financial acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 159 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new stake in Cummins in the third quarter valued at $55,000. Bangor Savings Bank increased its position in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after buying an additional 35 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cummins during the 2nd quarter worth $67,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 6,489 shares of company stock valued at $2,357,531. Corporate insiders own 0.56% of the company’s stock.

Cummins Trading Up 1.7 %

NYSE:CMI traded up $5.92 on Monday, hitting $360.80. 587,430 shares of the stock were exchanged, compared to its average volume of 546,887. The stock has a fifty day moving average of $361.92 and a 200-day moving average of $325.03. The stock has a market cap of $49.50 billion, a PE ratio of 23.83, a PEG ratio of 1.80 and a beta of 1.01. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90.

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

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors 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 annualized dividend and a dividend yield of 2.02%. Cummins’s payout ratio is currently 48.08%.

Analyst Ratings Changes

CMI has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup upped their target price on Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $363.50.

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.