Cummins Inc. $CMI Stock: Howard Capital Management LLC Grows Stake

Howard Capital Management LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 3,996.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,233 shares of the company’s stock after buying an additional 34,373 shares during the quarter. Howard Capital Management LLC’s holdings in Cummins were worth $18,200,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CMI. Persistent Asset Partners Ltd bought a new position in shares of Cummins in the 2nd quarter worth $26,000. Elevation Wealth Partners LLC raised its stake in shares of Cummins by 91.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 22 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in Cummins by 1,500.0% during the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Key Financial Inc lifted its position in Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Finally, Cornerstone Financial Management LLC boosted its position in shares of Cummins by 65.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 63 shares of the company’s stock worth $45,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of a number of research analyst reports. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. CICC Research initiated coverage on shares of Cummins in a report on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price objective on the stock. UBS Group decreased their price objective on shares of Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Finally, Bank of America lowered their target price on shares of Cummins from $731.00 to $600.00 in a research note on Thursday, September 24th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $708.18.

Insider Buying and Selling at Cummins

In related news, VP Earl Newsome sold 698 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares of the company’s stock, valued at $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Cummins Stock Performance

Shares of Cummins stock traded down $2.01 on Friday, reaching $530.72. 1,255,487 shares of the stock were exchanged, compared to its average volume of 1,127,504. The business has a 50 day moving average price of $555.86 and a two-hundred day moving average price of $619.86. The firm has a market capitalization of $73.06 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.41 and a beta of 1.24. Cummins Inc. has a twelve month low of $405.82 and a twelve month high of $737.76. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a return on equity of 25.29% and a net margin of 7.82%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same quarter last year, the company posted $6.43 EPS. Cummins’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 29.98 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be paid a $2.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. Cummins’s dividend payout ratio is presently 44.97%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.