Leuthold Group LLC Decreases Stake in Cummins Inc. (NYSE:CMI)

Leuthold Group LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,366 shares of the company’s stock after selling 67 shares during the quarter. Leuthold Group LLC’s holdings in Cummins were worth $2,040,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CMI. Cultivar Capital Inc. purchased a new stake in Cummins during the 2nd quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins during the second quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in shares of Cummins in the second quarter worth $29,000. LRI Investments LLC acquired a new stake in Cummins in the first quarter valued at $31,000. Finally, JNBA Financial Advisors boosted its stake in Cummins by 1,111.1% during the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred on 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 owns 77,442 shares in the company, valued at $23,870,722.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMI shares. Citigroup assumed coverage on shares of Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 target price for the company. Truist Financial boosted their price objective on Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a report on Monday, August 5th. Robert W. Baird increased their target price on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Raymond James started coverage on Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $299.55.

Cummins Trading Up 2.9 %

Shares of NYSE:CMI opened at $309.22 on Friday. 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 company’s 50-day moving average price is $297.25 and its 200 day moving average price is $287.97. The company has a market cap of $42.30 billion, a PE ratio of 22.64, a P/E/G ratio of 1.70 and a beta of 0.98. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $322.83.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter last year, the business earned $5.18 earnings per share. Cummins’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 19.66 earnings per share for the current year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd were paid a $1.82 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.35%. Cummins’s dividend payout ratio is presently 53.29%.

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.