869 Shares in Cummins Inc. (NYSE:CMI) Bought by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership bought a new position in shares of Cummins Inc. (NYSE:CMIFree Report) in the fourth quarter, Holdings Channel.com reports. The fund bought 869 shares of the company’s stock, valued at approximately $208,000.

Several other large investors also recently made changes to their positions in CMI. OFI Invest Asset Management purchased a new stake in Cummins in the 3rd quarter worth about $25,000. Silver Oak Securities Incorporated purchased a new position in shares of Cummins during the 3rd quarter worth approximately $28,000. Tyler Stone Wealth Management purchased a new position in shares of Cummins during the second quarter valued at approximately $30,000. Global Wealth Strategies & Associates purchased a new position in Cummins in the 3rd quarter worth about $29,000. Finally, Quarry LP purchased a new stake in shares of Cummins during the 1st quarter valued at about $32,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jennifer Rumsey sold 739 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the sale, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at $720,123.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,289 shares of company stock worth $13,576,838. Insiders own 1.05% of the company’s stock.

Cummins Stock Performance

CMI stock traded up $0.65 on Tuesday, reaching $295.18. The company’s stock had a trading volume of 264,947 shares, compared to its average volume of 3,170,910. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $297.11. The firm has a fifty day moving average of $264.08 and a two-hundred day moving average of $241.77. The company has a market capitalization of $41.87 billion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMIGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.52 earnings per share. As a group, analysts predict that Cummins Inc. will post 18.36 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is 129.73%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen increased their price target on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Truist Financial began coverage on Cummins in a report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price target for the company. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Citigroup increased their price target on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Evercore ISI increased their price target on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $271.64.

Check Out Our Latest Report on Cummins

Cummins Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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