Neumann Capital Management LLC Raises Holdings in Cummins Inc. (NYSE:CMI)

Neumann Capital Management LLC lifted its position in Cummins Inc. (NYSE:CMI) by 5.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,050 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Neumann Capital Management LLC’s holdings in Cummins were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Pathway Financial Advisers LLC raised its holdings in shares of Cummins by 31,489.1% during the 3rd 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 in the last quarter. International Assets Investment Management LLC increased its position in Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cummins by 8.2% during the first 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 purchasing an additional 604,735 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Cummins during the second quarter valued at $68,018,000. Finally, SG Americas Securities LLC grew its stake in shares of Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after buying an additional 179,346 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,413 shares of company stock worth $8,249,879. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CMI has been the subject of a number of analyst reports. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the company from $294.00 to $408.00 in a report on Wednesday. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Citigroup lifted their target price on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays increased their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $334.33.

Cummins Trading Down 0.7 %

CMI stock opened at $363.81 on Friday. Cummins Inc. has a 12 month low of $220.02 and a 12 month high of $370.21. The firm’s 50-day moving average is $326.20 and its 200 day moving average is $300.60. The company has a market capitalization of $49.91 billion, a PE ratio of 24.03, a P/E/G ratio of 1.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business 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 company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $4.73 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 20.61 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

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.