Cummins Inc. (NYSE:CMI) Stock Holdings Lifted by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC raised its position in shares of Cummins Inc. (NYSE:CMI) by 518.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,639 shares of the company’s stock after purchasing an additional 8,919 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Cummins were worth $3,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins in the 2nd quarter valued at $28,000. Cultivar Capital Inc. bought a new position in Cummins in the 2nd quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in shares of Cummins in the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new stake in Cummins in the first quarter valued at about $31,000. Finally, Prospera Private Wealth LLC bought a new stake in Cummins in the third quarter valued at $32,000. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,001 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 4,326 shares of company stock worth $1,559,125. 0.56% of the stock is currently owned by company insiders.

Cummins Price Performance

NYSE:CMI opened at $369.13 on Friday. The stock’s fifty day moving average is $334.37 and its two-hundred day moving average is $303.79. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.64. The company has a market capitalization of $50.64 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the business earned $4.73 EPS. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMI. Barclays increased their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Finally, Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $337.67.

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.