Cummins Inc. (NYSE:CMI) Holdings Raised by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 666 shares of the company’s stock after purchasing an additional 46 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Cummins were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC raised its stake in Cummins by 2.8% during the 4th quarter. Savant Capital LLC now owns 12,910 shares of the company’s stock valued at $4,501,000 after purchasing an additional 349 shares during the period. Angeles Wealth Management LLC raised its position in Cummins by 115.8% during the fourth quarter. Angeles Wealth Management LLC now owns 2,238 shares of the company’s stock valued at $780,000 after buying an additional 1,201 shares during the period. HTLF Bank purchased a new stake in Cummins in the 4th quarter worth about $200,000. Compass Financial Services Inc acquired a new stake in Cummins during the 4th quarter worth about $27,000. Finally, Kestra Private Wealth Services LLC grew its stake in Cummins by 28.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 5,711 shares of the company’s stock valued at $1,991,000 after acquiring an additional 1,254 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $383.08.

Cummins Stock Performance

CMI opened at $372.38 on Wednesday. The stock has a 50-day moving average of $361.74 and a 200-day moving average of $337.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. Cummins Inc. has a 52-week low of $250.90 and a 52-week high of $387.90. The company has a market cap of $51.08 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the company posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.96%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Cummins Company 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.