8,920 Shares in Cummins Inc. (NYSE:CMI) Bought by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,920 shares of the company’s stock, valued at approximately $2,888,000.

A number of other institutional investors have also recently bought and sold shares of the business. Cultivar Capital Inc. acquired a new position in Cummins during the 2nd quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC acquired a new position in Cummins during the 1st quarter worth approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.9 %

Shares of CMI stock opened at $325.62 on Tuesday. The company has a market cap of $44.63 billion, a P/E ratio of 23.48, a PEG ratio of 1.88 and a beta of 0.97. The stock has a 50 day simple moving average of $319.24 and a two-hundred day simple moving average of $297.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. Cummins Inc. has a fifty-two week low of $214.57 and a fifty-two week high of $340.82.

Cummins Announces Dividend

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 issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.24%. Cummins’s payout ratio is currently 52.49%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 transaction 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 $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Robert W. Baird raised their price target on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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. Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Evercore ISI lifted their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $311.55.

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.