Boston Trust Walden Corp Raises Position in Cummins Inc. (NYSE:CMI)

Boston Trust Walden Corp raised its position in shares of Cummins Inc. (NYSE:CMI) by 15.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,020 shares of the company’s stock after purchasing an additional 675 shares during the period. Boston Trust Walden Corp’s holdings in Cummins were worth $1,625,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. purchased a new stake in Cummins during the second quarter valued at about $28,000. Cultivar Capital Inc. purchased a new stake in Cummins during the second quarter valued at about $28,000. Lynx Investment Advisory purchased a new stake in Cummins during the second quarter valued at about $29,000. LRI Investments LLC purchased a new stake in Cummins during the first quarter valued at about $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CMI shares. Evercore ISI raised their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Citigroup raised their target price on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Finally, Barclays lifted their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $311.55.

Cummins Price Performance

CMI stock opened at $329.17 on Monday. The firm has a 50 day moving average price of $316.25 and a 200-day moving average price of $295.94. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $340.82. The firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.92 and a beta of 0.98. 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 (NYSE:CMI) last released its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same period last year, the business earned $5.18 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 19.77 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.21%. Cummins’s payout ratio is currently 53.29%.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. 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.

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.