Cummins Inc. (NYSE:CMI) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lowered its position in Cummins Inc. (NYSE:CMI) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,094 shares of the company’s stock after selling 1,109 shares during the quarter. Lmcg Investments LLC’s holdings in Cummins were worth $12,982,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins in the 2nd quarter valued at $28,000. Cultivar Capital Inc. acquired a new position in shares of Cummins in the 2nd quarter valued at $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins in the 2nd quarter valued at $29,000. LRI Investments LLC acquired a new position in shares of Cummins in the 1st quarter valued at $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Robert W. Baird upped their price target on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial upped their price target on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $311.55.

Insider Buying and Selling at Cummins

In other Cummins news, 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 value of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 20,873 shares in the company, valued at $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 is available at this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $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 insiders.

Cummins Price Performance

Shares of Cummins stock traded down $0.47 on Friday, hitting $328.51. The company’s stock had a trading volume of 387,603 shares, compared to its average volume of 1,514,713. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $340.82. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $318.94 and a 200-day moving average price of $297.09. The company has a market capitalization of $45.02 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.18 EPS. On average, equities research analysts expect that Cummins Inc. will post 19.96 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.22%. Cummins’s dividend payout ratio (DPR) is 52.49%.

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.