Cummins Inc. (NYSE:CMI) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its position in shares of Cummins Inc. (NYSE:CMI) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,508 shares of the company’s stock after selling 282 shares during the quarter. Pathstone Holdings LLC’s holdings in Cummins were worth $8,583,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. boosted its position in shares of Cummins by 3.8% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,403 shares of the company’s stock valued at $1,426,000 after purchasing an additional 163 shares in the last quarter. Capital City Trust Co. FL bought a new position in shares of Cummins in the third quarter valued at $218,000. Strengthening Families & Communities LLC lifted its position in shares of Cummins by 7.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,877 shares of the company’s stock valued at $2,874,000 after acquiring an additional 581 shares during the last quarter. Richard C. Young & CO. LTD. boosted its stake in shares of Cummins by 1.8% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 37,608 shares of the company’s stock worth $12,177,000 after acquiring an additional 671 shares in the last quarter. Finally, AMG National Trust Bank acquired a new position in shares of Cummins in the 3rd quarter worth $219,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 2.3 %

Shares of NYSE CMI opened at $369.13 on Friday. The business has a 50 day simple moving average of $334.37 and a 200 day simple moving average of $303.79. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.64. The stock has a market cap of $50.64 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.73 earnings per share. On average, research analysts predict that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.97%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,326 shares of company stock valued at $1,559,125 over the last quarter. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Citigroup lifted their price objective on shares of Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $337.67.

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.