Lindbrook Capital LLC Has $518,000 Stock Position in Cummins Inc. (NYSE:CMI)

Lindbrook Capital LLC raised its position in Cummins Inc. (NYSE:CMI) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,163 shares of the company’s stock after acquiring an additional 234 shares during the period. Lindbrook Capital LLC’s holdings in Cummins were worth $518,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Balentine LLC raised its holdings in shares of Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after buying an additional 127 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $9,048,000. Sequoia Financial Advisors LLC raised its holdings in shares of Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after buying an additional 3,866 shares in the last quarter. Capital Advisors Inc. OK acquired a new position in shares of Cummins in the 4th quarter worth approximately $24,915,000. Finally, SG Americas Securities LLC raised its holdings in shares of Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after buying an additional 16,869 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMI. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. TD Cowen increased their price target on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial began coverage on Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI increased their price target on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Down 1.3 %

NYSE:CMI opened at $287.56 on Monday. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $39.33 billion, a P/E ratio of 55.51, a P/E/G ratio of 1.96 and a beta of 1.04. The stock’s fifty day simple moving average is $280.26 and its 200-day simple moving average is $248.68.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.52 EPS. Equities research analysts expect that Cummins Inc. will post 18.31 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is presently 129.73%.

Insider Buying and Selling

In other Cummins news, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel William Fisher purchased 562 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the purchase, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is owned by company insiders.

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.