Arkadios Wealth Advisors Acquires 889 Shares of Cummins Inc. (NYSE:CMI)

Arkadios Wealth Advisors lifted its holdings in Cummins Inc. (NYSE:CMI – Get Rating) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,378 shares of the company’s stock after buying an additional 889 shares during the period. Arkadios Wealth Advisors’ holdings in Cummins were worth $2,514,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Cummins by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock worth $2,687,113,000 after acquiring an additional 226,774 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cummins by 39.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock valued at $1,067,213,000 after buying an additional 1,484,171 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after buying an additional 173,139 shares during the period. LSV Asset Management grew its stake in shares of Cummins by 0.3% in the 3rd quarter. LSV Asset Management now owns 2,082,812 shares of the company’s stock valued at $423,873,000 after buying an additional 6,089 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Cummins by 48.8% in the 3rd quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock valued at $413,878,000 after buying an additional 666,567 shares during the period. 80.94% of the stock is owned by institutional investors.

Cummins Stock Down 2.9 %

CMI stock traded down $6.63 during mid-day trading on Friday, reaching $225.21. 6,126,622 shares of the company traded hands, compared to its average volume of 1,068,341. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.38 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 0.45. Cummins Inc. has a fifty-two week low of $184.27 and a fifty-two week high of $261.91. The firm’s 50 day moving average price is $247.59 and its 200 day moving average price is $237.06.

Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings results on Monday, February 6th. The company reported $4.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $4.52. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the business earned $2.85 EPS. The company’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts predict that Cummins Inc. will post 18.95 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Friday, February 24th were given a dividend of $1.57 per share. The ex-dividend date was Thursday, February 23rd. This represents a $6.28 annualized dividend and a dividend yield of 2.79%. Cummins’s dividend payout ratio is currently 41.56%.

Analyst Upgrades and Downgrades

CMI has been the subject of several research reports. StockNews.com initiated coverage on Cummins in a research note on Thursday. They issued a “buy” rating for the company. Morgan Stanley reduced their target price on Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. Credit Suisse Group raised their target price on Cummins from $287.00 to $291.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. UBS Group raised their target price on Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Cummins from $235.00 to $231.00 and set a “hold” rating for the company in a research note on Tuesday, February 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $254.75.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 5,929 shares of Cummins stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $257.13, for a total transaction of $1,524,523.77. Following the transaction, the vice president now owns 16,144 shares of the company’s stock, valued at approximately $4,151,106.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Georgia R. Nelson sold 1,933 shares of Cummins stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total value of $486,420.12. Following the sale, the director now owns 21,742 shares of the company’s stock, valued at approximately $5,471,156.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sharon R. Barner sold 5,929 shares of Cummins stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $257.13, for a total transaction of $1,524,523.77. Following the completion of the sale, the vice president now directly owns 16,144 shares in the company, valued at approximately $4,151,106.72. The disclosure for this sale can be found here. Insiders have sold a total of 16,709 shares of company stock valued at $4,245,545 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Cummins Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.