Cummins Inc. (NYSE:CMI) Shares Purchased by Cwm LLC

Cwm LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,466 shares of the company’s stock after acquiring an additional 446 shares during the quarter. Cwm LLC’s holdings in Cummins were worth $2,028,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cummins by 13.1% in the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after buying an additional 2,055,239 shares during the last quarter. Morgan Stanley lifted its stake in Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after buying an additional 50,476 shares during the last quarter. Northern Trust Corp lifted its stake in Cummins by 4.0% in the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after buying an additional 69,830 shares during the last quarter. Stifel Financial Corp lifted its stake in Cummins by 0.9% in the third quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock valued at $365,430,000 after buying an additional 13,634 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cummins by 28.2% in the third quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock valued at $244,710,000 after buying an additional 235,372 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.3 %

Shares of CMI stock opened at $291.40 on Friday. The business’s fifty day moving average price is $282.84 and its 200 day moving average price is $250.18. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The firm has a market capitalization of $39.85 billion, a PE ratio of 56.25, a P/E/G ratio of 1.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. As a group, sell-side analysts forecast that Cummins Inc. will post 18.34 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 129.73%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the sale, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction 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 sale, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,289 shares of company stock valued at $13,576,838. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Truist Financial assumed coverage on Cummins in a research note on Thursday, March 14th. They set a “hold” rating and a $303.00 price target for the company. The Goldman Sachs Group upped their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Evercore ISI upped their price target on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $279.70.

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.