Alpha Family Trust Buys New Position in Cummins Inc. (NYSE:CMI)

Alpha Family Trust bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 661 shares of the company’s stock, valued at approximately $214,000.

Several other large investors also recently added to or reduced their stakes in the business. River Street Advisors LLC grew its position in Cummins by 3.9% during the third quarter. River Street Advisors LLC now owns 6,080 shares of the company’s stock valued at $1,969,000 after buying an additional 229 shares during the period. Natixis Advisors LLC grew its position in Cummins by 2.2% during the third quarter. Natixis Advisors LLC now owns 98,665 shares of the company’s stock valued at $31,946,000 after buying an additional 2,092 shares during the period. Mizuho Securities USA LLC grew its position in Cummins by 673.6% during the third quarter. Mizuho Securities USA LLC now owns 81,573 shares of the company’s stock valued at $26,413,000 after buying an additional 71,028 shares during the period. Empowered Funds LLC grew its position in Cummins by 15.3% during the third quarter. Empowered Funds LLC now owns 24,617 shares of the company’s stock valued at $7,971,000 after buying an additional 3,265 shares during the period. Finally, Empirical Finance LLC grew its position in Cummins by 1.8% during the third quarter. Empirical Finance LLC now owns 4,838 shares of the company’s stock valued at $1,566,000 after buying an additional 84 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

CMI stock opened at $361.85 on Friday. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21. The company’s fifty day moving average price is $328.91 and its 200-day moving average price is $301.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market capitalization of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm earned $4.73 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is 48.08%.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,576 shares of company stock valued at $9,033,945 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CMI shares. Citigroup boosted their target price on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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 target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $334.33.

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.