Signal Advisors Wealth LLC Purchases 41,213 Shares of Cummins Inc. $CMI

Signal Advisors Wealth LLC grew its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 4,918.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,051 shares of the company’s stock after purchasing an additional 41,213 shares during the period. Cummins makes up approximately 1.0% of Signal Advisors Wealth LLC’s investment portfolio, making the stock its 20th biggest position. Signal Advisors Wealth LLC’s holdings in Cummins were worth $21,722,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its holdings in Cummins by 311.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,238 shares of the company’s stock valued at $3,739,000 after buying an additional 5,480 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of Cummins by 304.5% during the 3rd quarter. Krilogy Financial LLC now owns 11,225 shares of the company’s stock worth $5,798,000 after acquiring an additional 8,450 shares in the last quarter. Mechanics Bank Trust Department raised its holdings in shares of Cummins by 297.6% during the 3rd quarter. Mechanics Bank Trust Department now owns 1,841 shares of the company’s stock worth $951,000 after acquiring an additional 1,378 shares in the last quarter. Salvus Wealth Management LLC boosted its position in shares of Cummins by 1,301.2% during the 3rd quarter. Salvus Wealth Management LLC now owns 23,863 shares of the company’s stock valued at $12,327,000 after acquiring an additional 22,160 shares during the last quarter. Finally, Downshift Financial LLC boosted its position in shares of Cummins by 950.0% during the 3rd quarter. Downshift Financial LLC now owns 84 shares of the company’s stock valued at $43,000 after acquiring an additional 76 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 0.3%

Shares of CMI stock opened at $529.57 on Wednesday. Cummins Inc. has a 1 year low of $400.72 and a 1 year high of $737.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $562.88 and its two-hundred day simple moving average is $620.45. The company has a market cap of $72.90 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24.

Cummins (NYSE:CMI – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. Cummins’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.43 earnings per share. Research analysts predict that Cummins Inc. will post 30.10 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, November 20th. Cummins’s dividend payout ratio is presently 44.97%.

Insiders Place Their Bets

In related news, VP Earl Newsome sold 698 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the sale, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMI. DA Davidson raised their target price on shares of Cummins from $605.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley upped their price target on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Wells Fargo & Company lowered their price objective on shares of Cummins from $874.00 to $760.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Finally, Evercore dropped their price objective on shares of Cummins from $845.00 to $782.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $708.18.

View Our Latest Research Report on Cummins

Cummins Company Profile

(Free Report)

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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