Cummins Inc. (NYSE:CMI) Shares Sold by Acropolis Investment Management LLC

Acropolis Investment Management LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 7.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,675 shares of the company’s stock after selling 207 shares during the quarter. Acropolis Investment Management LLC’s holdings in Cummins were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after buying an additional 972,247 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Cummins during the 2nd quarter valued at approximately $68,018,000. SG Americas Securities LLC grew its stake in Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock valued at $54,574,000 after acquiring an additional 179,346 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Cummins in the 2nd quarter worth $46,607,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.1 %

NYSE CMI opened at $375.25 on Friday. The business’s fifty day simple moving average is $342.77 and its 200-day simple moving average is $307.25. 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 firm has a market cap of $51.48 billion, a PE ratio of 24.79, a P/E/G ratio of 1.80 and a beta of 0.97. Cummins Inc. has a 52 week low of $223.35 and a 52 week high of $379.66.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.73 EPS. As a group, equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.94%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 6,489 shares of company stock worth $2,357,531 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CMI shares. Truist Financial increased their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays raised their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup raised their target price on Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $337.67.

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.