Stiles Financial Services Inc Acquires 193 Shares of Cummins Inc. (NYSE:CMI)

Stiles Financial Services Inc boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,285 shares of the company’s stock after acquiring an additional 193 shares during the quarter. Stiles Financial Services Inc’s holdings in Cummins were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the 2nd quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in shares of Cummins in the 2nd quarter valued at $28,000. Lynx Investment Advisory bought a new stake in shares of Cummins in the 2nd quarter valued at $29,000. LRI Investments LLC bought a new stake in shares of Cummins in the 1st quarter valued at $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins in the 3rd quarter valued at $34,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

Cummins stock opened at $354.72 on Friday. The stock’s 50 day simple moving average is $321.21 and its two-hundred day simple moving average is $298.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The stock has a market cap of $48.61 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.86 and a beta of 0.97. Cummins Inc. has a fifty-two week low of $214.57 and a fifty-two week high of $370.21.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the business earned $4.73 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 19.96 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is 52.49%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMI. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI increased their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $324.83.

Insider Activity

In other news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now 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 SEC, which is available at this link. In related news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares in the company, valued at $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. Insiders own 0.56% of the company’s stock.

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.