KilterHowling LLC Invests $974,000 in Cummins Inc. $CMI

KilterHowling LLC bought a new stake in Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,366 shares of the company’s stock, valued at approximately $974,000. Cummins accounts for 0.4% of KilterHowling LLC’s holdings, making the stock its 19th largest position.

A number of other institutional investors have also bought and sold shares of CMI. Activest Wealth Management raised its position in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Cummins by 1,500.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 45 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of Cummins during the 2nd quarter valued at about $26,000. Wellington Shields Capital Management LLC acquired a new stake in Cummins during the fourth quarter worth approximately $27,000. Finally, Key Financial Inc grew its stake in Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 2.5%

CMI stock opened at $593.12 on Friday. The stock’s 50 day simple moving average is $662.30 and its 200 day simple moving average is $628.59. The company has a market cap of $81.65 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. Cummins Inc. has a fifty-two week low of $389.52 and a fifty-two week high of $737.76.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same period last year, the business posted $6.43 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 30.06 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. This is an increase from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is 40.88%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMI shares. UBS Group dropped their price target on Cummins from $850.00 to $835.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Raymond James Financial raised their price objective on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Truist Financial set a $894.00 price objective on shares of Cummins in a research note on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Argus raised their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus price target of $745.64.

Cummins 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.