Adell Harriman & Carpenter Inc. Buys 1,431 Shares of Cummins Inc. (NYSE:CMI)

Adell Harriman & Carpenter Inc. raised its stake in Cummins Inc. (NYSE:CMI) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,566 shares of the company’s stock after purchasing an additional 1,431 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Cummins were worth $6,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. KG&L Capital Management LLC raised its holdings in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after buying an additional 28 shares in the last quarter. Chicago Capital LLC raised its holdings in shares of Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Massachusetts Wealth Management raised its holdings in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after buying an additional 31 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Cummins Trading Up 1.2 %

NYSE CMI opened at $373.71 on Friday. The business’s 50-day moving average price is $361.20 and its two-hundred day moving average price is $338.14. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The firm has a market capitalization of $51.38 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the company posted $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.95%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $383.08.

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.