Hantz Financial Services Inc. Increases Stock Holdings in Cummins Inc. $CMI

Hantz Financial Services Inc. lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,097 shares of the company’s stock after buying an additional 202 shares during the period. Hantz Financial Services Inc.’s holdings in Cummins were worth $3,307,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Cummins by 1.9% in the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock worth $5,417,331,000 after purchasing an additional 321,823 shares during the last quarter. Northern Trust Corp boosted its position in Cummins by 1.2% in the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock worth $597,170,000 after purchasing an additional 22,202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cummins by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,634,580 shares of the company’s stock worth $512,343,000 after purchasing an additional 8,487 shares during the last quarter. Raymond James Financial Inc. boosted its position in Cummins by 152.3% in the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock worth $424,414,000 after purchasing an additional 817,384 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Cummins by 11.6% in the first quarter. Invesco Ltd. now owns 1,215,956 shares of the company’s stock worth $381,129,000 after purchasing an additional 126,362 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, September 3rd. Melius Research raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their target price on Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Evercore ISI restated an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Finally, Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $410.50.

Cummins Stock Performance

Shares of CMI opened at $438.34 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $449.21. The firm has a market cap of $60.40 billion, a PE ratio of 20.61, a PEG ratio of 2.05 and a beta of 1.04. The stock’s fifty day moving average price is $415.90 and its two-hundred day moving average price is $362.73.

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

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, November 21st. Cummins’s payout ratio is presently 37.61%.

Insider Buying and Selling

In related news, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total transaction of $748,203.60. Following the sale, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. The trade was a 66.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were 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 in the company, valued at approximately $8,354,925.44. The trade was a 19.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,319 shares of company stock valued at $17,764,105. 0.41% of the stock is owned by company insiders.

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.