WD Rutherford LLC Grows Stake in Cummins Inc. (NYSE:CMI)

WD Rutherford LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 3.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,074 shares of the company’s stock after buying an additional 309 shares during the period. Cummins accounts for approximately 1.7% of WD Rutherford LLC’s portfolio, making the stock its 27th largest holding. WD Rutherford LLC’s holdings in Cummins were worth $3,512,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC grew its holdings in shares of Cummins by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 408 shares of the company’s stock worth $132,000 after purchasing an additional 227 shares in the last quarter. Creative Planning grew its stake in Cummins by 0.3% in the 3rd quarter. Creative Planning now owns 60,996 shares of the company’s stock worth $19,750,000 after buying an additional 203 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Cummins by 7.2% in the 3rd quarter. Global Retirement Partners LLC now owns 3,093 shares of the company’s stock worth $1,001,000 after buying an additional 209 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Cummins by 3.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,316 shares of the company’s stock valued at $4,635,000 after buying an additional 474 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Cummins by 16.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,300 shares of the company’s stock worth $1,069,000 after acquiring an additional 469 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CMI shares. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial raised their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $383.08.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s 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 completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $373.71 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $51.27 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. The business’s 50 day moving average price is $361.09 and its 200-day moving average price is $338.71. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the company posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.95%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.