Cummins Inc. (NYSE:CMI) Shares Bought by Mather Group LLC.

Mather Group LLC. lifted its position in shares of Cummins Inc. (NYSE:CMI) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,471 shares of the company’s stock after acquiring an additional 126 shares during the period. Mather Group LLC.’s holdings in Cummins were worth $1,023,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in Cummins in the fourth quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Cummins during the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cummins during the 4th quarter worth about $31,000. LRI Investments LLC acquired a new stake in shares of Cummins in the 1st quarter worth approximately $31,000. Finally, JNBA Financial Advisors boosted its holdings in shares of Cummins by 1,111.1% in the first quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of CMI traded up $3.02 during mid-day trading on Wednesday, hitting $295.33. The company’s stock had a trading volume of 155,951 shares, compared to its average volume of 1,870,176. Cummins Inc. has a one year low of $212.80 and a one year high of $322.83. The stock’s 50-day moving average is $280.31 and its two-hundred day moving average is $277.76. The firm has a market capitalization of $40.40 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 1.34.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same period last year, the business earned $5.18 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins Inc. will post 18.61 EPS for the current year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd will be given a $1.82 dividend. The ex-dividend date is Friday, August 23rd. This is a positive change from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 dividend on an annualized basis and a yield of 2.47%. Cummins’s payout ratio is 53.29%.

Insiders Place Their Bets

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the transaction, the vice president now owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP Marvin Boakye bought 1,745 shares of the company’s stock in a transaction on Monday, May 20th. The stock was bought at an average cost of $286.04 per share, with a total value of $499,139.80. Following the completion of the purchase, the vice president now owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Raymond James began coverage on shares of Cummins in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Citigroup began coverage on Cummins in a report on Wednesday, June 26th. They set a “buy” rating and a $320.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $295.00.

About Cummins

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.