Valtrion Capital Management LLC Makes New $1.74 Million Investment in Cummins Inc. $CMI

Valtrion Capital Management LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,439 shares of the company’s stock, valued at approximately $1,740,000. Cummins makes up about 1.3% of Valtrion Capital Management LLC’s holdings, making the stock its 11th largest position.

Other institutional investors also recently bought and sold shares of the company. Valmark Advisers Inc. raised its position in shares of Cummins by 1.9% in the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after buying an additional 16 shares during the last quarter. Guardian Partners Inc. lifted its stake in Cummins by 1.0% in the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock worth $852,000 after purchasing an additional 16 shares in the last quarter. Nicolet Advisory Services LLC lifted its stake in Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after purchasing an additional 17 shares in the last quarter. Uhlmann Price Securities LLC boosted its holdings in shares of Cummins by 2.4% during the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after purchasing an additional 17 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its position in shares of Cummins by 2.6% in the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock valued at $369,000 after purchasing an additional 18 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 0.3%

Shares of CMI stock opened at $573.19 on Wednesday. Cummins Inc. has a fifty-two week low of $389.52 and a fifty-two week high of $737.76. The company has a 50 day moving average price of $656.14 and a 200 day moving average price of $628.10. The stock has a market capitalization of $78.91 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing the consensus estimate of $7.21 by ($0.48). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.43 EPS. Equities research analysts predict that Cummins Inc. will post 30.06 EPS for the current fiscal year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is presently 44.97%.

Insiders Place Their Bets

In other Cummins news, VP Earl Newsome sold 698 shares of the company’s stock in a transaction dated 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 $2,562,973.38. This represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMI. JPMorgan Chase & Co. lifted their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price target on Cummins from $794.00 to $874.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Morgan Stanley raised their price objective on Cummins from $752.00 to $761.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Argus boosted their price objective on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Raymond James Financial upped their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $745.64.

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.