Clear Trail Advisors LLC Raises Holdings in Cummins Inc. $CMI

Clear Trail Advisors LLC raised its position in shares of Cummins Inc. (NYSE:CMI) by 131.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,016 shares of the company’s stock after acquiring an additional 1,144 shares during the period. Clear Trail Advisors LLC’s holdings in Cummins were worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Northwestern Mutual Wealth Management Co. increased its position in Cummins by 10,317.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after purchasing an additional 2,434,876 shares in the last quarter. Norges Bank acquired a new position in Cummins during the fourth quarter valued at approximately $863,441,000. Boston Partners acquired a new position in Cummins during the third quarter valued at approximately $473,471,000. London Co. of Virginia purchased a new stake in Cummins during the third quarter worth approximately $231,732,000. Finally, SG Americas Securities LLC grew its stake in Cummins by 257.9% during the first quarter. SG Americas Securities LLC now owns 736,670 shares of the company’s stock worth $396,343,000 after buying an additional 530,812 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMI. Sanford C. Bernstein reissued a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. Morgan Stanley upped their price target on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial set a $815.00 price objective on Cummins in a research report on Wednesday, May 6th. Barclays boosted their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Argus upped their target price on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $731.86.

Cummins Price Performance

CMI opened at $724.23 on Tuesday. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $737.76. The firm has a market cap of $99.94 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 1.74 and a beta of 1.23. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $665.26 and a 200 day simple moving average of $592.91.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The firm 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 revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.96 EPS. Equities research analysts expect that Cummins Inc. will post 29.44 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s payout ratio is 41.52%.

Insiders Place Their Bets

In other Cummins news, VP Marvin Boakye sold 3,481 shares of Cummins stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the sale, the vice president directly owned 8,508 shares in the company, valued at $5,784,589.20. The trade was a 29.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the transaction, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Insiders own 0.30% of the company’s stock.

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.