1,613 Shares in Cummins Inc. (NYSE:CMI) Bought by Claro Advisors LLC

Claro Advisors LLC bought a new stake in Cummins Inc. (NYSE:CMI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,613 shares of the company’s stock, valued at approximately $522,000.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares in the last quarter. Distillate Capital Partners LLC grew its position in Cummins by 109,309.3% in the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after acquiring an additional 59,027 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Cummins during the 2nd quarter worth $16,329,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cummins by 13.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock valued at $55,073,000 after purchasing an additional 21,850 shares during the last quarter. Finally, Duality Advisers LP boosted its holdings in Cummins by 190.3% in the first quarter. Duality Advisers LP now owns 18,440 shares of the company’s stock worth $5,433,000 after purchasing an additional 12,087 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMI. Raymond James started coverage on Cummins in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Robert W. Baird upped their target price on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI lifted 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. Citigroup raised their target price on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” 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 company an “underweight” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $311.55.

Cummins Trading Up 0.8 %

Cummins stock opened at $335.51 on Friday. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $340.82. The stock has a market cap of $45.89 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The business has a 50 day moving average price of $312.64 and a two-hundred day moving average price of $294.84. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the business earned $5.18 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Cummins Inc. will post 19.77 EPS for the current year.

Cummins Dividend Announcement

The company 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. This represents a $7.28 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is 53.29%.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the business’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 transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Sharon R. Barner sold 4,780 shares of the business’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 transaction, the vice president now directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 77,442 shares of the company’s stock, 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. 0.56% of the stock is currently owned by corporate insiders.

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.