Catalina Capital Group LLC Purchases 49 Shares of Cummins Inc. (NYSE:CMI)

Catalina Capital Group LLC grew its position in shares of Cummins Inc. (NYSE:CMI) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,119 shares of the company’s stock after buying an additional 49 shares during the quarter. Catalina Capital Group LLC’s holdings in Cummins were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMI. Avidian Wealth Enterprises LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $230,000. Crescent Grove Advisors LLC purchased a new stake in shares of Cummins during the 3rd quarter valued at $209,000. Fiduciary Family Office LLC raised its stake in shares of Cummins by 194.5% during the 3rd quarter. Fiduciary Family Office LLC now owns 2,810 shares of the company’s stock worth $910,000 after purchasing an additional 1,856 shares during the period. Crestwood Advisors Group LLC boosted its holdings in shares of 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. Finally, Amalgamated Bank grew its position in Cummins by 6.0% during the third 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. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s 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 sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $356.07 on Thursday. The company has a 50 day moving average of $321.21 and a 200 day moving average of $298.27. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The stock has a market cap of $48.80 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.88 and a beta of 0.97. Cummins Inc. has a 12 month low of $214.57 and a 12 month high of $370.21.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm 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 quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.73 earnings per share. As a group, sell-side analysts forecast that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 dividend yield of 2.04%. Cummins’s dividend payout ratio (DPR) is presently 52.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMI shares. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Truist Financial upped 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. Evercore ISI raised their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday. Finally, Barclays boosted 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $324.83.

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.