Copperwynd Financial LLC Purchases 60 Shares of Cummins Inc. $CMI

Copperwynd Financial LLC grew its position in Cummins Inc. (NYSE:CMI) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,321 shares of the company’s stock after acquiring an additional 60 shares during the quarter. Copperwynd Financial LLC’s holdings in Cummins were worth $1,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Olde Wealth Management LLC bought a new position in shares of Cummins during the 1st quarter worth approximately $30,000. Accredited Wealth Management LLC bought a new position in shares of Cummins during the 1st quarter worth approximately $31,000. Opal Wealth Advisors LLC bought a new position in shares of Cummins during the 1st quarter worth approximately $37,000. Richardson Financial Services Inc. bought a new position in shares of Cummins during the 1st quarter worth approximately $39,000. Finally, Costello Asset Management INC bought a new position in shares of Cummins during the 1st quarter worth approximately $40,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. The trade was a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen H. Quintos sold 1,307 shares of Cummins stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $405.33, for a total value of $529,766.31. Following the completion of the sale, the director directly owned 5,227 shares in the company, valued at approximately $2,118,659.91. This represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,119 shares of company stock valued at $17,674,285. Corporate insiders own 0.41% of the company’s stock.

Cummins Stock Up 0.5%

Shares of Cummins stock opened at $436.53 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $440.51. The business has a fifty day simple moving average of $404.89 and a 200 day simple moving average of $348.14. The stock has a market cap of $60.15 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.21 by $1.22. The firm had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.26 earnings per share. Research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date was Friday, August 22nd. Cummins’s dividend payout ratio is presently 37.61%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMI. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a research report on Saturday, September 27th. Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, September 3rd. Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Wells Fargo & Company raised Cummins to an “overweight” rating in a report on Monday, August 11th. Finally, Truist Financial raised their price target on Cummins from $380.00 to $434.00 and gave the company a “hold” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $397.43.

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.