Cummins Inc. (NYSE:CMI) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,968 shares of the company’s stock after buying an additional 276 shares during the quarter. D.A. Davidson & CO. owned approximately 0.17% of Cummins worth $73,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chicago Capital LLC boosted its stake in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the period. Equitable Trust Co. raised its holdings in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Cummins by 0.7% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after acquiring an additional 35 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its position in shares of Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMI shares. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Robert W. Baird increased their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Truist Financial upped their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $337.67.

Cummins Stock Performance

Shares of Cummins stock opened at $375.32 on Tuesday. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.81 and a beta of 0.97. The firm’s fifty day simple moving average is $337.27 and its 200-day simple moving average is $305.21. 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 Inc. has a 12 month low of $222.04 and a 12 month high of $377.64.

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

Cummins Announces Dividend

The business 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 dividend of $1.82 per share. 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 1.94%. Cummins’s payout ratio is 48.08%.

Insider Buying and Selling at Cummins

In other news, 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 owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

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.