1,225 Shares in Cummins Inc. $CMI Purchased by TABR Capital Management LLC

TABR Capital Management LLC bought a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,225 shares of the company’s stock, valued at approximately $625,000.

Several other institutional investors also recently made changes to their positions in the stock. Holos Integrated Wealth LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new position in Cummins during the 3rd quarter worth $28,000. Salomon & Ludwin LLC grew its stake in Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares during the last quarter. Guerra Advisors Inc acquired a new stake in Cummins in the third quarter worth $36,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Cummins in the third quarter valued at $37,000. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president directly owned 15,807 shares in the company, valued at $8,873,101.38. This represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Earl Newsome sold 1,300 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the transaction, the vice president directly owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CMI shares. Wells Fargo & Company upped their price target on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Truist Financial restated a “buy” rating and issued a $703.00 target price (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Raymond James Financial raised their price target on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Cummins Price Performance

Shares of NYSE CMI opened at $532.73 on Monday. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The firm’s 50-day simple moving average is $573.85 and its 200 day simple moving average is $501.64. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $73.60 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.69 and a beta of 1.12.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 earnings per share. Equities analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio is currently 38.99%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.