FSM Wealth Advisors LLC Invests $204,000 in Cummins Inc. (NYSE:CMI)

FSM Wealth Advisors LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the third quarter, Holdings Channel.com reports. The fund purchased 629 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds have also recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC purchased a new position in shares of Cummins during the 1st quarter worth approximately $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity

In other news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $354.45 on Wednesday. Cummins Inc. has a twelve month low of $214.57 and a twelve month high of $356.68. The firm’s fifty day simple moving average is $320.21 and its 200-day simple moving average is $297.86. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.88 and a beta of 0.97. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. Cummins’s payout ratio is 52.49%.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price target 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. Barclays raised their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Citigroup raised their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI raised their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $311.55.

Cummins Company 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.