HighRoad Wealth Advisors LLC Takes Position in Cummins Inc. $CMI

HighRoad Wealth Advisors LLC purchased a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,650 shares of the company’s stock, valued at approximately $842,000. Cummins makes up 0.8% of HighRoad Wealth Advisors LLC’s holdings, making the stock its 14th largest holding.

A number of other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Cummins by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after buying an additional 91,956 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cummins by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company’s stock valued at $649,280,000 after buying an additional 7,372 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Cummins by 4.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company’s stock valued at $640,090,000 after buying an additional 64,822 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Cummins by 50.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock valued at $612,715,000 after buying an additional 488,430 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Cummins in the 3rd quarter valued at about $473,471,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity at Cummins

In other Cummins news, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director directly owned 34,243 shares of the company’s stock, valued at approximately $20,446,495.30. This trade represents a 34.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,195 shares of company stock worth $18,397,489 in the last ninety days. 0.30% of the stock is owned by company insiders.

Cummins Stock Performance

Shares of Cummins stock opened at $626.91 on Monday. The firm has a market capitalization of $86.62 billion, a P/E ratio of 30.55, a PEG ratio of 1.98 and a beta of 1.14. 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 company has a 50 day moving average price of $571.31 and a 200 day moving average price of $523.68. Cummins Inc. has a 52 week low of $269.24 and a 52 week high of $628.00.

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

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a “market perform” rating in a report on Friday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research report on Friday, February 6th. Finally, Wolfe Research lowered shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective for the company. in a research report on Monday, January 26th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $598.47.

Cummins 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.