Integrity Alliance LLC. Increases Stock Position in Cummins Inc. $CMI

Integrity Alliance LLC. raised its holdings in Cummins Inc. (NYSE:CMI) by 54.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,972 shares of the company’s stock after purchasing an additional 1,393 shares during the quarter. Integrity Alliance LLC.’s holdings in Cummins were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its holdings in Cummins by 99.6% in the 4th quarter. AlphaQuest LLC now owns 2,890 shares of the company’s stock valued at $1,475,000 after purchasing an additional 1,442 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Cummins by 12.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 278 shares of the company’s stock valued at $142,000 after purchasing an additional 30 shares in the last quarter. Cary Street Partners Financial LLC boosted its holdings in Cummins by 3.2% in the 4th quarter. Cary Street Partners Financial LLC now owns 893 shares of the company’s stock valued at $456,000 after purchasing an additional 28 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Cummins in the 4th quarter valued at approximately $27,000. Finally, Wellington Shields & Co. LLC boosted its holdings in Cummins by 93.1% in the 4th quarter. Wellington Shields & Co. LLC now owns 921 shares of the company’s stock valued at $470,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

CMI stock opened at $667.05 on Thursday. The firm has a 50 day moving average of $619.15 and a 200-day moving average of $567.96. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a market cap of $92.05 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 1.66 and a beta of 1.27.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm posted $5.96 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 28.93 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, May 22nd. Cummins’s payout ratio is currently 41.52%.

Insider Activity

In related news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the transaction, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This represents a 20.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,633 shares of company stock worth $11,653,357. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CMI. Barclays lifted their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup lifted their price target on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley lifted their price target on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird set a $700.00 price target on shares of Cummins in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $700.50.

About Cummins

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.