KG&L Capital Management LLC Has $1.25 Million Stock Position in Cummins Inc. (NYSE:CMI)

KG&L Capital Management LLC raised its stake in Cummins Inc. (NYSE:CMI) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,024 shares of the company’s stock after purchasing an additional 275 shares during the period. KG&L Capital Management LLC’s holdings in Cummins were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMI. Robeco Institutional Asset Management B.V. grew its stake in shares of Cummins by 23.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 436,624 shares of the company’s stock worth $136,855,000 after acquiring an additional 83,283 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Cummins by 0.6% in the first quarter. Perigon Wealth Management LLC now owns 6,588 shares of the company’s stock valued at $2,065,000 after acquiring an additional 42 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Cummins during the first quarter valued at approximately $157,000. Golden State Wealth Management LLC lifted its holdings in Cummins by 117.5% during the first quarter. Golden State Wealth Management LLC now owns 2,214 shares of the company’s stock worth $694,000 after acquiring an additional 1,196 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in Cummins by 11.4% in the first quarter. Daymark Wealth Partners LLC now owns 7,681 shares of the company’s stock worth $2,407,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, Director John H. Stone bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares of the company’s stock, valued at $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.

Cummins Trading Down 1.5%

Shares of CMI stock opened at $318.86 on Thursday. The business has a 50-day moving average price of $313.19 and a two-hundred day moving average price of $333.69. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40. The firm has a market cap of $43.93 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. Cummins’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $5.08 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.28%. Cummins’s dividend payout ratio (DPR) is 36.22%.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $410.00 to $431.00 in a research note on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of Cummins from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Evercore ISI cut their price target on Cummins from $451.00 to $419.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Wall Street Zen lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, UBS Group downgraded Cummins from a “buy” rating to a “sell” rating and cut their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $358.08.

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.