Twelve Points Wealth Management LLC Purchases 190 Shares of Cummins Inc. (NYSE:CMI)

Twelve Points Wealth Management LLC grew its position in Cummins Inc. (NYSE:CMI) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,166 shares of the company’s stock after buying an additional 190 shares during the period. Twelve Points Wealth Management LLC’s holdings in Cummins were worth $1,025,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC lifted its stake in Cummins by 0.7% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after buying an additional 35 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after acquiring an additional 35 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after acquiring an additional 38 shares in the last quarter. Greenleaf Trust boosted its stake in Cummins by 0.5% in the 1st quarter. Greenleaf Trust now owns 7,720 shares of the company’s stock worth $2,275,000 after purchasing an additional 40 shares during the period. Finally, Bangor Savings Bank increased its holdings in Cummins by 39.2% during the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company’s stock worth $39,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CMI shares. Citigroup boosted their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial upped their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Evercore ISI boosted their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Raymond James initiated coverage on shares of Cummins in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $311.55.

Cummins Price Performance

NYSE:CMI opened at $333.88 on Thursday. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $339.78. The firm has a market capitalization of $45.67 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 1.92 and a beta of 0.98. The stock’s 50 day moving average price is $311.09 and its two-hundred day moving average price is $294.29. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The business had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter in the prior year, the business earned $5.18 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.18%. Cummins’s dividend payout ratio is currently 53.29%.

Insider Activity

In related news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

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.