Drucker Wealth 3.0 LLC Buys New Position in Cummins Inc. $CMI

Drucker Wealth 3.0 LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,980 shares of the company’s stock, valued at approximately $663,000.

Other large investors have also bought and sold shares of the company. Olde Wealth Management LLC bought a new position in Cummins during the first quarter valued at about $30,000. Accredited Wealth Management LLC bought a new position in Cummins during the first quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new position in Cummins during the first quarter valued at about $37,000. Richardson Financial Services Inc. bought a new position in Cummins during the first quarter valued at about $39,000. Finally, Costello Asset Management INC acquired a new position in shares of Cummins in the 1st quarter valued at $40,000. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CMI shares. Barclays increased their price target on Cummins from $381.00 to $387.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. Robert W. Baird increased their price target on Cummins from $315.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a research report on Saturday, September 27th. Finally, Truist Financial increased their price target on Cummins from $380.00 to $434.00 and gave the company a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $397.43.

Cummins Trading Down 3.1%

NYSE:CMI opened at $413.28 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $440.51. The stock’s 50-day moving average is $407.21 and its two-hundred day moving average is $349.52. The stock has a market cap of $56.95 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the business earned $5.26 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were issued a $2.00 dividend. This is an increase from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. Cummins’s payout ratio is 37.61%.

Insider Transactions at Cummins

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the sale, the director owned 5,227 shares of the company’s stock, valued at $2,118,659.91. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the sale, the vice president directly owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,119 shares of company stock worth $17,674,285. Insiders own 0.41% of the company’s stock.

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.