877 Shares in Cummins Inc. (NYSE:CMI) Acquired by &Partners

&Partners bought a new position in Cummins Inc. (NYSE:CMI) in the first quarter, Holdings Channel reports. The firm bought 877 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors also recently bought and sold shares of the company. First United Bank & Trust acquired a new stake in Cummins in the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC acquired a new stake in Cummins during the 4th quarter valued at approximately $26,000. Silver Oak Securities Incorporated acquired a new stake in Cummins during the 3rd quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Cummins during the 4th quarter valued at approximately $31,000. Finally, Quarry LP lifted its stake in Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after acquiring an additional 106 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jeffrey T. Wiltrout purchased 282 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $285.11 per share, with a total value of $80,401.02. Following the acquisition, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cummins news, VP Marvin Boakye bought 1,745 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average price of $286.04 per share, with a total value of $499,139.80. Following the completion of the acquisition, the vice president now directly owns 1,745 shares of the company’s stock, valued at $499,139.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeffrey T. Wiltrout bought 282 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, with a total value of $80,401.02. Following the acquisition, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CMI has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Truist Financial reaffirmed a “hold” rating and set a $319.00 target price on shares of Cummins in a report on Wednesday, May 15th. Finally, TD Cowen lifted their target price on shares of Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $284.36.

Cummins Price Performance

Shares of NYSE CMI opened at $276.94 on Monday. The firm has a market cap of $37.88 billion, a PE ratio of 20.27, a PEG ratio of 1.73 and a beta of 1.02. The firm has a fifty day moving average of $283.40 and a 200 day moving average of $267.47. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins Inc. has a one year low of $212.80 and a one year high of $304.24.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. As a group, research analysts predict that Cummins Inc. will post 18.84 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s payout ratio is presently 49.19%.

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.