Centiva Capital LP Takes $205,000 Position in Cummins Inc. (NYSE:CMI)

Centiva Capital LP bought a new position in Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 634 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors also recently added to or reduced their stakes in CMI. Ascent Group LLC boosted its position in Cummins by 7.8% during the 3rd quarter. Ascent Group LLC now owns 1,380 shares of the company’s stock valued at $447,000 after buying an additional 100 shares during the period. Benjamin Edwards Inc. increased its position in Cummins by 670.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 33,723 shares of the company’s stock valued at $10,941,000 after purchasing an additional 29,344 shares during the period. Point72 Hong Kong Ltd lifted its position in shares of Cummins by 143.2% in the 3rd quarter. Point72 Hong Kong Ltd now owns 9,381 shares of the company’s stock worth $3,037,000 after purchasing an additional 5,524 shares during the period. Erste Asset Management GmbH bought a new stake in Cummins during the 3rd quarter valued at approximately $11,899,000. Finally, Ironwood Investment Counsel LLC lifted its position in Cummins by 1.4% during the third quarter. Ironwood Investment Counsel LLC now owns 22,816 shares of the company’s stock valued at $7,388,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other 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 $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CMI shares. Citigroup upped their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird boosted their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a research report on Monday. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $352.85.

Cummins Trading Up 0.1 %

CMI opened at $370.66 on Friday. The company has a market capitalization of $50.85 billion, a P/E ratio of 24.55, a PEG ratio of 1.84 and a beta of 0.99. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The stock’s fifty day moving average is $351.60 and its two-hundred day moving average is $312.44.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $4.73 earnings per share. Analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.96%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

About Cummins

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.