GAMMA Investing LLC Purchases 737 Shares of Cummins Inc. (NYSE:CMI)

GAMMA Investing LLC increased its position in Cummins Inc. (NYSE:CMI) by 31.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,109 shares of the company’s stock after acquiring an additional 737 shares during the quarter. GAMMA Investing LLC’s holdings in Cummins were worth $1,084,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CMI. Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Cummins in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new position in Cummins during the 3rd quarter worth $55,000. Itau Unibanco Holding S.A. acquired a new position in Cummins during the 2nd quarter worth about $67,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Cummins in the 2nd quarter valued at about $83,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $354.35 on Friday. The business’s fifty day moving average is $358.67 and its 200 day moving average is $321.04. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market cap of $48.61 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.80 and a beta of 0.99.

Cummins (NYSE:CMI) last released 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. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $4.73 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $356.92.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 over the last ninety days. 0.56% of the stock is currently owned by 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.