Unison Advisors LLC Buys 66 Shares of Cummins Inc. (NYSE:CMI)

Unison Advisors LLC raised its position in shares of Cummins Inc. (NYSE:CMI) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,990 shares of the company’s stock after purchasing an additional 66 shares during the period. Unison Advisors LLC’s holdings in Cummins were worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CMI. First United Bank & Trust purchased a new stake in Cummins in the 4th quarter worth about $25,000. Lynx Investment Advisory bought a new stake in shares of Cummins in the second quarter valued at approximately $29,000. LRI Investments LLC bought a new stake in shares of Cummins in the first quarter valued at approximately $31,000. Private Wealth Management Group LLC purchased a new stake in shares of Cummins during the 4th quarter valued at approximately $26,000. Finally, JNBA Financial Advisors boosted its holdings in Cummins by 1,111.1% in the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock worth $32,000 after buying an additional 100 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMI has been the subject of several analyst reports. Truist Financial raised their target price on Cummins from $315.00 to $349.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Raymond James assumed coverage on shares of Cummins in a report on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. TD Cowen boosted their price target on shares of Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, The Goldman Sachs Group increased their price objective on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $295.00.

Insider Transactions at Cummins

In related news, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares in the company, valued at $359,808.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Jeffrey T. Wiltrout purchased 282 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the acquisition, the vice president now directly owns 1,262 shares in the company, valued at $359,808.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Marvin Boakye acquired 1,745 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was purchased at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the transaction, the vice president now directly owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

NYSE:CMI traded down $3.27 during mid-day trading on Friday, reaching $293.97. The stock had a trading volume of 597,256 shares, compared to its average volume of 1,857,917. Cummins Inc. has a one year low of $212.80 and a one year high of $322.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 1.34. The firm has a 50 day moving average price of $281.27 and a two-hundred day moving average price of $278.70. The stock has a market capitalization of $40.21 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.93 and a beta of 0.99.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.18 EPS. As a group, analysts expect that Cummins Inc. will post 18.61 earnings per share for the current year.

Cummins Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd will be paid a dividend of $1.82 per share. This is a boost from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, August 23rd. Cummins’s dividend payout ratio (DPR) is 53.29%.

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.