Cummins Inc. (NYSE:CMI) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,195 shares of the company’s stock after selling 1,432 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cummins were worth $12,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Cummins by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock valued at $2,342,001,000 after buying an additional 604,735 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cummins by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock valued at $469,869,000 after purchasing an additional 26,977 shares during the period. Legal & General Group Plc raised its stake in Cummins by 1.9% during the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after purchasing an additional 31,190 shares during the period. Finally, Marshfield Associates boosted its holdings in shares of Cummins by 0.3% in the 2nd quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock valued at $288,699,000 after purchasing an additional 3,076 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $356.07 on Thursday. Cummins Inc. has a 1-year low of $214.57 and a 1-year high of $370.21. The stock has a market cap of $48.80 billion, a P/E ratio of 25.67, a PEG 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. The firm has a 50-day moving average of $321.21 and a two-hundred day moving average of $298.27.

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

Cummins Announces Dividend

The business 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. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.04%. Cummins’s dividend payout ratio is presently 52.49%.

Insider Buying and Selling at Cummins

In other 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 sale, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction that occurred 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 transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. 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 insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CMI shares. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Truist Financial lifted their price target on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their price objective on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, seven have issued 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $324.83.

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.