D.A. Davidson & CO. Buys 45 Shares of Cummins Inc. (NYSE:CMI)

D.A. Davidson & CO. lifted its stake in Cummins Inc. (NYSE:CMI) by 0.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,083 shares of the company’s stock after purchasing an additional 45 shares during the period. D.A. Davidson & CO. owned 0.17% of Cummins worth $71,490,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CMI. Brighton Jones LLC boosted its stake in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares during the last quarter. Norden Group LLC bought a new position in Cummins in the fourth quarter valued at approximately $219,000. Jones Financial Companies Lllp boosted its position in shares of Cummins by 35.5% in the 4th quarter. Jones Financial Companies Lllp now owns 15,547 shares of the company’s stock worth $5,420,000 after purchasing an additional 4,077 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cummins during the 4th quarter worth about $30,000. Finally, Fidelis Capital Partners LLC increased its stake in shares of Cummins by 8.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,242 shares of the company’s stock valued at $432,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.1%

CMI stock opened at $333.15 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 0.81. The stock has a market capitalization of $45.89 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.98 and a beta of 1.03. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The business has a 50-day moving average of $318.01 and a 200-day moving average of $332.11.

Cummins (NYSE:CMI) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.08 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, May 23rd. Cummins’s payout ratio is 36.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMI. Robert W. Baird decreased their price objective on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Evercore ISI dropped their price objective on Cummins from $451.00 to $419.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. UBS Group downgraded Cummins from a “buy” rating to a “sell” rating and lowered their price target for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Finally, The Goldman Sachs Group upgraded Cummins from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $410.00 to $431.00 in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cummins has a consensus rating of “Hold” and a consensus price target of $358.08.

Insiders Place Their Bets

In other Cummins news, Director John H. Stone purchased 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $332.08 per share, with a total value of $332,080.00. Following the transaction, the director directly owned 2,441 shares of the company’s stock, valued at $810,607.28. This represents a 69.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% 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.