Cummins Inc. (NYSE:CMI) Position Boosted by Eagle Bluffs Wealth Management LLC

Eagle Bluffs Wealth Management LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,160 shares of the company’s stock after purchasing an additional 84 shares during the period. Cummins comprises about 1.0% of Eagle Bluffs Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Eagle Bluffs Wealth Management LLC’s holdings in Cummins were worth $1,476,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hamilton Point Investment Advisors LLC lifted its position in shares of Cummins by 1.4% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 19,039 shares of the company’s stock worth $4,561,000 after purchasing an additional 262 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in Cummins by 5.8% in the fourth quarter. Flputnam Investment Management Co. now owns 17,361 shares of the company’s stock worth $4,159,000 after acquiring an additional 945 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Cummins in the fourth quarter worth about $431,000. B&D White Capital Company LLC bought a new position in Cummins in the fourth quarter worth about $551,000. Finally, Bison Wealth LLC lifted its holdings in Cummins by 3.6% in the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock valued at $13,576,838 over the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent research reports. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. TD Cowen raised their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup raised their price objective on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $279.70.

Cummins Stock Down 0.6 %

Shares of CMI stock traded down $1.66 on Tuesday, hitting $294.12. The company’s stock had a trading volume of 421,023 shares, compared to its average volume of 2,870,663. The stock has a market capitalization of $40.22 billion, a price-to-earnings ratio of 56.71, a P/E/G ratio of 2.03 and a beta of 1.04. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm’s fifty day moving average price is $276.99 and its 200-day moving average price is $246.85.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the firm posted $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 18.29 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 129.73%.

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.