Good Life Advisors LLC Sells 207 Shares of Cummins Inc. (NYSE:CMI)

Good Life Advisors LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 15.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,137 shares of the company’s stock after selling 207 shares during the period. Good Life Advisors LLC’s holdings in Cummins were worth $368,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Culbertson A N & Co. Inc. raised its holdings in Cummins by 0.4% during the third quarter. Culbertson A N & Co. Inc. now owns 35,982 shares of the company’s stock valued at $11,651,000 after buying an additional 140 shares in the last quarter. Twelve Points Wealth Management LLC increased its stake in shares of Cummins by 6.4% in the third quarter. Twelve Points Wealth Management LLC now owns 3,166 shares of the company’s stock worth $1,025,000 after purchasing an additional 190 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Cummins by 3.4% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,586 shares of the company’s stock worth $7,637,000 after purchasing an additional 773 shares during the period. Transform Wealth LLC increased its stake in shares of Cummins by 2.1% in the third quarter. Transform Wealth LLC now owns 35,995 shares of the company’s stock worth $11,655,000 after purchasing an additional 730 shares during the period. Finally, Jamison Private Wealth Management Inc. increased its stake in shares of Cummins by 152.0% in the third quarter. Jamison Private Wealth Management Inc. now owns 988 shares of the company’s stock worth $320,000 after purchasing an additional 596 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Up 0.8 %

NYSE CMI opened at $335.51 on Friday. 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 stock’s 50 day moving average is $312.64 and its two-hundred day moving average is $294.84. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.92 and a beta of 0.98. Cummins Inc. has a 1-year low of $212.80 and a 1-year high of $340.82.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share 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 the consensus estimate of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.18 earnings per share. Equities analysts forecast that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is currently 53.29%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMI. Barclays lifted their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Truist Financial lifted 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. JPMorgan Chase & Co. lifted their target price on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Raymond James started coverage on Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI lifted their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and an average price target of $311.55.

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.