Cummins Inc. (NYSE:CMI) Shares Sold by Venture Visionary Partners LLC

Venture Visionary Partners LLC cut its stake in Cummins Inc. (NYSE:CMI) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,655 shares of the company’s stock after selling 63 shares during the period. Venture Visionary Partners LLC’s holdings in Cummins were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC raised its position in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after buying an additional 59,027 shares during the period. Manning & Napier Advisors LLC acquired a new position in Cummins in the second quarter valued at $16,329,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Cummins by 13.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock valued at $55,073,000 after acquiring an additional 21,850 shares during the period. Finally, Duality Advisers LP increased its stake in Cummins by 190.3% during the first quarter. Duality Advisers LP now owns 18,440 shares of the company’s stock worth $5,433,000 after acquiring an additional 12,087 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CMI. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Truist Financial lifted their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their price target on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Evercore ISI lifted their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Raymond James assumed coverage on shares of Cummins in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $311.55.

Insider Buying and Selling

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

Cummins Stock Down 0.9 %

Shares of Cummins stock opened at $330.76 on Wednesday. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $340.82. The stock has a market capitalization of $45.24 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.92 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $314.29 and its 200-day simple moving average is $295.33.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. The company had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $5.18 earnings per share. Equities research analysts forecast that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. Cummins’s dividend payout ratio is presently 53.29%.

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.