Soltis Investment Advisors LLC Buys 46 Shares of Cummins Inc. (NYSE:CMI)

Soltis Investment Advisors LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 666 shares of the company’s stock after buying an additional 46 shares during the period. Soltis Investment Advisors LLC’s holdings in Cummins were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC raised its stake in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares in the last quarter. Mariner Investment Group LLC acquired a new position in Cummins in the fourth quarter worth about $1,046,000. Alpha DNA Investment Management LLC acquired a new position in Cummins in the third quarter worth about $748,000. Franklin Resources Inc. lifted its stake in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares during the period. Finally, Dupree Financial Group LLC acquired a new stake in Cummins during the third quarter valued at approximately $3,925,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMI. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup reduced their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Cummins has an average rating of “Hold” and a consensus target price of $383.08.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of CMI stock opened at $372.38 on Wednesday. Cummins Inc. has a 1 year low of $250.90 and a 1 year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $361.74 and its 200-day moving average is $337.16. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 EPS. Sell-side analysts forecast that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.96%. Cummins’s dividend payout ratio is 25.84%.

About Cummins

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.