Crestwood Advisors Group LLC Purchases 95 Shares of Cummins Inc. (NYSE:CMI)

Crestwood Advisors Group LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,805 shares of the company’s stock after purchasing an additional 95 shares during the period. Crestwood Advisors Group LLC’s holdings in Cummins were worth $584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins in the second quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new stake in Cummins during the 2nd quarter valued at $28,000. Lynx Investment Advisory bought a new position in Cummins in the 2nd quarter valued at $29,000. LRI Investments LLC bought a new stake in shares of Cummins during the first quarter worth $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter valued at $34,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMI has been the subject of several research reports. Evercore ISI raised their price objective 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. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird increased their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average price target of $324.83.

Cummins Price Performance

Cummins stock opened at $356.07 on Thursday. The firm has a market capitalization of $48.80 billion, a P/E ratio of 25.67, a PEG ratio of 1.88 and a beta of 0.97. The business has a 50-day moving average of $321.21 and a 200-day moving average of $298.27. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 1 year low of $214.57 and a 1 year high of $370.21.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is presently 52.49%.

Insiders Place Their Bets

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’s 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 directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the firm’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 transaction of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

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.