2,060 Shares in Cummins Inc. (NYSE:CMI) Purchased by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,060 shares of the company’s stock, valued at approximately $494,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Cummins by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after acquiring an additional 2,055,239 shares during the last quarter. BlackRock Inc. raised its holdings in Cummins by 1.5% in the 2nd quarter. BlackRock Inc. now owns 12,398,646 shares of the company’s stock valued at $3,039,652,000 after acquiring an additional 180,643 shares during the last quarter. State Street Corp raised its holdings in Cummins by 3.0% in the 1st quarter. State Street Corp now owns 6,482,278 shares of the company’s stock valued at $1,548,473,000 after acquiring an additional 191,776 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after acquiring an additional 173,139 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Cummins by 2.7% in the 3rd quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after acquiring an additional 50,476 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of several analyst reports. TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and increased their price target for the company from $254.00 to $321.00 in a research note on Friday, March 15th. TD Cowen increased their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Evercore ISI increased their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Truist Financial initiated coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $271.64.

Cummins Stock Down 0.0 %

Shares of CMI traded down $0.08 during midday trading on Thursday, reaching $294.61. The stock had a trading volume of 1,107,282 shares, compared to its average volume of 3,261,030. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $297.11. The company’s fifty day simple moving average is $261.54 and its two-hundred day simple moving average is $240.87. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 1.98 and a beta of 1.03. 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:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 earnings per share. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 18.36 earnings per share for the current year.

Cummins Announces Dividend

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

Insider Buying and Selling

In related news, Director Daniel William Fisher purchased 562 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the purchase, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction on 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 transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the purchase, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 in the last ninety days. 1.12% of the stock is owned by corporate insiders.

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.