Cummins Inc. (NYSE:CMI) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,154 shares of the company’s stock after acquiring an additional 758 shares during the period. MML Investors Services LLC’s holdings in Cummins were worth $5,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. PFG Investments LLC raised its holdings in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares in the last quarter. CWM LLC grew its position in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC increased its holdings in shares of Cummins by 109,309.3% in the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after buying an additional 59,027 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins during the 3rd quarter valued at $748,000. Finally, Dupree Financial Group LLC bought a new stake in shares of Cummins during the 3rd quarter worth $3,925,000. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMI. Robert W. Baird upped their target price 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 boosted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup raised their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a report on Monday. Finally, Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $352.85.

Cummins Stock Up 0.1 %

CMI stock opened at $370.66 on Friday. The company has a 50 day moving average of $351.60 and a two-hundred day moving average of $312.44. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The company has a market cap of $50.85 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.84 and a beta of 0.99.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the firm earned $4.73 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.96%. Cummins’s payout ratio is 48.08%.

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.