Strengthening Families & Communities LLC Purchases 581 Shares of Cummins Inc. (NYSE:CMI)

Strengthening Families & Communities LLC lifted its position in Cummins Inc. (NYSE:CMI) by 7.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,877 shares of the company’s stock after buying an additional 581 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Cummins were worth $2,874,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CMI. TIAA Trust National Association lifted its holdings in shares of Cummins by 26.7% during the first quarter. TIAA Trust National Association now owns 3,011 shares of the company’s stock worth $887,000 after buying an additional 634 shares during the last quarter. Edgestream Partners L.P. bought a new position in Cummins in the first quarter valued at about $949,000. O Shaughnessy Asset Management LLC lifted its stake in Cummins by 17.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 31,769 shares of the company’s stock valued at $9,361,000 after buying an additional 4,748 shares during the period. Clearbridge Investments LLC acquired a new position in Cummins in the first quarter valued at about $236,000. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Cummins during the first quarter worth about $256,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.5 %

Shares of Cummins stock opened at $361.85 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.21. The stock has a 50 day moving average price of $328.91 and a two-hundred day moving average price of $301.77. The stock has a market capitalization of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the firm posted $4.73 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business 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. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.01%. Cummins’s dividend payout ratio is presently 48.08%.

Insider Activity

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,576 shares of company stock worth $9,033,945 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Robert W. Baird upped their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average price target of $334.33.

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.