Crescent Grove Advisors LLC Acquires New Position in Cummins Inc. (NYSE:CMI)

Crescent Grove Advisors LLC bought a new position in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 644 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Family Office LLC grew its position in shares of Cummins by 194.5% in the third quarter. Fiduciary Family Office LLC now owns 2,810 shares of the company’s stock valued at $910,000 after purchasing an additional 1,856 shares during the period. Crestwood Advisors Group LLC boosted its stake in Cummins by 5.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,805 shares of the company’s stock worth $584,000 after buying an additional 95 shares during the last quarter. Amalgamated Bank grew its holdings in Cummins by 6.0% in the 3rd quarter. Amalgamated Bank now owns 29,336 shares of the company’s stock valued at $9,499,000 after buying an additional 1,664 shares during the period. FSM Wealth Advisors LLC acquired a new position in shares of Cummins during the 3rd quarter valued at about $204,000. Finally, Moloney Securities Asset Management LLC lifted its holdings in shares of Cummins by 5.0% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 1,638 shares of the company’s stock worth $530,000 after acquiring an additional 78 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Evercore ISI upped their price target on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, Citigroup lifted their price objective on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $324.83.

Cummins Stock Performance

Cummins stock opened at $356.07 on Thursday. The firm has a market capitalization of $48.80 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Cummins Inc. has a one year low of $214.57 and a one year high of $370.21. The stock’s 50 day moving average price is $321.21 and its 200 day moving average price is $298.27. 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 (NYSE:CMI) last posted 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 analysts’ expectations of $8.29 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.73 earnings per share. As a group, sell-side analysts expect that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given 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 2.04%. Cummins’s payout ratio is currently 52.49%.

Insider Activity

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

About Cummins

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.