Apollon Wealth Management LLC Boosts Holdings in Cummins Inc. (NYSE:CMI)

Apollon Wealth Management LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,415 shares of the company’s stock after acquiring an additional 769 shares during the period. Apollon Wealth Management LLC’s holdings in Cummins were worth $2,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Machina Capital S.A.S. purchased a new stake in Cummins during the 4th quarter worth about $1,057,000. Connecticut Wealth Management LLC increased its position in Cummins by 36.2% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,780 shares of the company’s stock valued at $906,000 after acquiring an additional 1,005 shares during the period. Sapient Capital LLC acquired a new position in Cummins in the 4th quarter valued at about $3,179,000. Merit Financial Group LLC boosted its holdings in Cummins by 42.2% in the 4th quarter. Merit Financial Group LLC now owns 4,863 shares of the company’s stock valued at $1,165,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Cummins by 10.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 28,544 shares of the company’s stock valued at $6,839,000 after purchasing an additional 2,605 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CMI shares. Morgan Stanley started coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. TD Cowen upped their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Finally, The Goldman Sachs Group raised their price objective on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $282.55.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Up 1.2 %

Shares of NYSE:CMI traded up $3.53 during midday trading on Tuesday, reaching $287.12. The company had a trading volume of 701,396 shares, compared to its average volume of 2,553,845. The stock’s fifty day moving average price is $285.74 and its 200-day moving average price is $253.36. The stock has a market capitalization of $39.27 billion, a P/E ratio of 21.00, a PEG ratio of 1.90 and a beta of 1.04. Cummins Inc. has a one year low of $203.18 and a one year high of $304.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 EPS. Cummins’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 18.45 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 49.19%.

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.