OneDigital Investment Advisors LLC Buys New Stake in Cummins Inc. $CMI

by · The Markets Daily

OneDigital Investment Advisors LLC purchased a new stake in Cummins Inc. (NYSE:CMI – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 5,573 shares of the company’s stock, valued at approximately $3,974,000.

A number of other institutional investors have also recently made changes to their positions in CMI. Activest Wealth Management lifted its position in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in shares of Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Cummins during the 4th quarter valued at approximately $27,000. Key Financial Inc grew its holdings in shares of Cummins by 62.5% in the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Birchwood Financial Partners Inc. bought a new stake in Cummins in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Evercore restated an “outperform” rating and set a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Citigroup increased their price objective on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Barclays lifted their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. 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, Cummins presently has an average rating of “Moderate Buy” and an average price target of $745.64.

Check Out Our Latest Stock Report on CMI

Cummins Stock Performance

Shares of Cummins stock opened at $631.81 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average price is $665.58 and its 200-day moving average price is $627.56. The firm has a market cap of $86.98 billion, a P/E ratio of 32.28, a P/E/G ratio of 1.50 and a beta of 1.24. Cummins Inc. has a 12 month low of $389.52 and a 12 month high of $737.76.

Cummins (NYSE:CMI – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.43 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 30.15 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be paid a dividend of $2.20 per share. This is a boost from Cummins’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 21st. Cummins’s payout ratio is 40.88%.

Cummins Company Profile

(Free Report)

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.

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