Apollon Wealth Management LLC Raises Stock Holdings in Cummins Inc. (NYSE:CMI)

Apollon Wealth Management LLC boosted its position in Cummins Inc. (NYSE:CMI) by 11.0% in the second quarter, Holdings Channel.com reports. The firm owned 11,112 shares of the company’s stock after buying an additional 1,102 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cummins were worth $3,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First United Bank & Trust bought a new position in shares of Cummins in the 4th quarter worth about $25,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the second quarter valued at approximately $29,000. LRI Investments LLC bought a new stake in shares of Cummins in the 1st quarter worth approximately $31,000. Private Wealth Management Group LLC purchased a new stake in shares of Cummins in the 4th quarter worth approximately $26,000. Finally, JNBA Financial Advisors increased its position in Cummins by 1,111.1% during the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CMI. TD Cowen boosted their target price on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a report on Friday, May 10th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird raised their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, 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 report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $299.55.

Insider Buying and Selling

In other Cummins news, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the transaction, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey T. Wiltrout purchased 282 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the purchase, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Cummins Trading Down 0.0 %

NYSE:CMI opened at $301.52 on Tuesday. The business has a fifty day moving average price of $283.89 and a 200-day moving average price of $281.34. Cummins Inc. has a one year low of $212.80 and a one year high of $322.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.84. The firm has a market capitalization of $41.24 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) 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 company had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the company posted $5.18 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Cummins Inc. will post 18.61 EPS for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be paid a dividend of $1.82 per share. This is a boost from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.41%. Cummins’s payout ratio is 53.29%.

Cummins 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.