Nisa Investment Advisors LLC Boosts Stock Holdings in Cummins Inc. $CMI

Nisa Investment Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,756 shares of the company’s stock after acquiring an additional 1,111 shares during the period. Nisa Investment Advisors LLC’s holdings in Cummins were worth $32,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gilbert & Cook Inc. increased its holdings in Cummins by 1.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC boosted its stake in shares of Cummins by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock valued at $501,000 after buying an additional 20 shares during the period. United Capital Management of KS Inc. grew its position in shares of Cummins by 2.0% during the third quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock worth $485,000 after buying an additional 22 shares in the last quarter. Betterment LLC grew its position in shares of Cummins by 3.5% during the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after buying an additional 23 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of Cummins by 0.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock worth $2,499,000 after buying an additional 24 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Raymond James Financial increased their price objective on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Truist Financial restated a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a report on Friday, February 6th. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Cummins Price Performance

CMI stock opened at $537.21 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $74.22 billion, a P/E ratio of 26.18, a PEG ratio of 1.62 and a beta of 1.12. The business has a 50 day simple moving average of $569.08 and a 200-day simple moving average of $508.23. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. Cummins’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 EPS. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were paid a $2.00 dividend. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. Cummins’s payout ratio is currently 38.99%.

Insiders Place Their Bets

In other news, VP Earl Newsome sold 1,300 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is owned by insiders.

Cummins Company 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.