Cummins Inc. (NYSE:CMI) Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV raised its holdings in Cummins Inc. (NYSE:CMI) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,787 shares of the company’s stock after purchasing an additional 157 shares during the period. Forte Capital LLC ADV’s holdings in Cummins were worth $2,521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. CarsonAllaria Wealth Management Ltd. purchased a new stake in Cummins in the 2nd quarter worth $28,000. Cultivar Capital Inc. acquired a new position in shares of Cummins during the 2nd quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Cummins in the 2nd quarter valued at about $29,000. LRI Investments LLC acquired a new stake in Cummins in the 1st quarter worth about $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the 3rd quarter worth approximately $34,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. raised their target price on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Citigroup upped their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $324.83.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated 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 transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated 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 of the company’s stock, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.5 %

Shares of NYSE CMI opened at $356.07 on Thursday. The company has a market capitalization of $48.80 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The company has a 50 day simple moving average of $321.21 and a 200-day simple moving average of $298.27. Cummins Inc. has a 1 year low of $214.57 and a 1 year high of $370.21.

Cummins (NYSE:CMI) last posted its 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 the consensus estimate of $8.29 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.73 earnings per share. On average, equities research analysts predict that Cummins Inc. will post 19.96 earnings per share for the current 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 paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is presently 52.49%.

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.