Creative Financial Designs Inc. ADV Acquires 114 Shares of Cummins Inc. (NYSE:CMI)

Posted by Defense World Staff on Jul 12th, 2023

Creative Financial Designs Inc. ADV lifted its holdings in Cummins Inc. (NYSE:CMI – Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 982 shares of the company’s stock after purchasing an additional 114 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Cummins were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D increased its holdings in Cummins by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 80,716 shares of the company’s stock worth $19,557,000 after acquiring an additional 531 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Cummins by 0.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 7,543 shares of the company’s stock worth $1,828,000 after acquiring an additional 67 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Cummins by 5.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 329,159 shares of the company’s stock worth $79,752,000 after acquiring an additional 15,735 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Cummins in the 4th quarter worth approximately $419,000. Finally, Dfpg Investments LLC increased its holdings in Cummins by 162.2% in the 1st quarter. Dfpg Investments LLC now owns 5,089 shares of the company’s stock worth $1,216,000 after acquiring an additional 3,148 shares in the last quarter. Institutional investors own 82.72% of the company’s stock.

Cummins Trading Up 1.4 %

Shares of CMI opened at $256.59 on Wednesday. The company has a 50 day simple moving average of $227.29 and a two-hundred day simple moving average of $236.24. Cummins Inc. has a 1 year low of $191.60 and a 1 year high of $261.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.29 and a quick ratio of 0.80. The firm has a market cap of $36.32 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05.

Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Tuesday, May 2nd. The company reported $5.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.85. Cummins had a net margin of 8.37% and a return on equity of 25.94%. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the firm posted $4.04 earnings per share. Cummins’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, equities analysts expect that Cummins Inc. will post 19.8 earnings per share for the current fiscal year.

Cummins Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 25th will be issued a $0.0168 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.03%. Cummins’s dividend payout ratio (DPR) is presently 35.40%.

Analyst Upgrades and Downgrades

CMI has been the subject of several analyst reports. 888 reissued a “maintains” rating on shares of Cummins in a report on Wednesday, May 31st. VNET Group reissued a “maintains” rating on shares of Cummins in a report on Wednesday, May 3rd. StockNews.com initiated coverage on shares of Cummins in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Cummins from $231.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $250.00.

About Cummins

(Free Report)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.