Cummins Inc. (NYSE:CMI) is Two Point Capital Management Inc.’s 10th Largest Position

Two Point Capital Management Inc. boosted its holdings in Cummins Inc. (NYSE:CMI) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,235 shares of the company’s stock after buying an additional 416 shares during the quarter. Cummins makes up about 3.9% of Two Point Capital Management Inc.’s holdings, making the stock its 10th largest position. Two Point Capital Management Inc.’s holdings in Cummins were worth $10,761,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Catalina Capital Group LLC raised its holdings in Cummins by 4.6% during the third quarter. Catalina Capital Group LLC now owns 1,119 shares of the company’s stock worth $362,000 after purchasing an additional 49 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in Cummins during the 3rd quarter worth $230,000. Crescent Grove Advisors LLC acquired a new stake in Cummins during the 3rd quarter worth $209,000. Fiduciary Family Office LLC boosted its stake in Cummins by 194.5% in the third quarter. Fiduciary Family Office LLC now owns 2,810 shares of the company’s stock valued at $910,000 after acquiring an additional 1,856 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in shares of Cummins by 5.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,805 shares of the company’s stock worth $584,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of Cummins 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 completion of the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 position. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CMI shares. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Evercore ISI upped 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. Truist Financial lifted their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Citigroup increased their target price 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $324.83.

Cummins Stock Up 0.5 %

Cummins stock opened at $356.07 on Thursday. The stock’s 50 day moving average price is $321.21 and its 200 day moving average price is $298.27. Cummins Inc. has a 1-year low of $214.57 and a 1-year high of $370.21. The company has a market cap of $48.80 billion, a PE ratio of 25.67, a price-to-earnings-growth 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.

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

Cummins Announces Dividend

The company also recently declared 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is currently 52.49%.

Cummins 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.