Western Wealth Management LLC lifted its holdings in Cummins Inc. (NYSE:CMI – Free Report) by 310.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,704 shares of the company’s stock after purchasing an additional 2,046 shares during the period. Western Wealth Management LLC’s holdings in Cummins were worth $1,455,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC boosted its position in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Activest Wealth Management boosted its holdings in Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in Cummins in the 4th quarter worth $27,000. Key Financial Inc raised its position in shares of Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 20 shares during the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new stake in Cummins during the fourth quarter worth about $28,000. 83.46% of the stock is owned by institutional investors.
Insider Activity
In other news, EVP Bonnie J. Fetch sold 652 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the transaction, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the sale, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Research Report on CMI
Cummins Stock Up 0.4%
Shares of NYSE CMI opened at $635.55 on Friday. Cummins Inc. has a 52-week low of $354.68 and a 52-week high of $737.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The business has a fifty day moving average of $670.10 and a two-hundred day moving average of $622.52. The stock has a market cap of $87.70 billion, a PE ratio of 32.98, a PEG ratio of 1.55 and a beta of 1.22.
Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.96 EPS. As a group, equities research analysts expect that Cummins Inc. will post 29.39 earnings per share for the current fiscal year.
Cummins Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 1.4%. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins’s dividend payout ratio (DPR) is presently 45.67%.
About Cummins
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.
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