Cummins Inc. (NYSE:CMI) Shares Bought by Stephens Inc. AR

Stephens Inc. AR raised its position in Cummins Inc. (NYSE:CMI) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,250 shares of the company’s stock after acquiring an additional 143 shares during the quarter. Stephens Inc. AR’s holdings in Cummins were worth $405,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Advisory Alpha LLC acquired a new stake in shares of Cummins during the first quarter worth approximately $225,000. Empirical Finance LLC grew its position in shares of Cummins by 3.4% during the first quarter. Empirical Finance LLC now owns 5,152 shares of the company’s stock worth $1,518,000 after buying an additional 170 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Cummins by 22.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,723 shares of the company’s stock worth $1,686,000 after buying an additional 1,061 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Cummins by 786.0% during the first quarter. Quantbot Technologies LP now owns 13,485 shares of the company’s stock worth $3,973,000 after buying an additional 11,963 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Cummins by 35.9% during the first quarter. Empowered Funds LLC now owns 16,869 shares of the company’s stock worth $4,970,000 after buying an additional 4,454 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the subject of a number of recent analyst reports. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup raised their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $324.83.

Insider Buying and Selling

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

Cummins Price Performance

Shares of CMI opened at $354.72 on Friday. The firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. Cummins Inc. has a one year low of $214.57 and a one year high of $370.21. The stock’s fifty day moving average is $321.21 and its 200-day moving average is $298.27.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.73 earnings per share. Equities analysts anticipate that Cummins Inc. will post 19.96 EPS for the current year.

Cummins Announces Dividend

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

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.