Natixis Advisors LLC Buys 2,092 Shares of Cummins Inc. (NYSE:CMI)

Natixis Advisors LLC boosted its position in Cummins Inc. (NYSE:CMI - Free Report) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 98,665 shares of the company's stock after acquiring an additional 2,092 shares during the period. Natixis Advisors LLC owned 0.07% of Cummins worth $31,946,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMI. Mizuho Securities USA LLC lifted its position in shares of Cummins by 673.6% during the third quarter. Mizuho Securities USA LLC now owns 81,573 shares of the company's stock worth $26,413,000 after acquiring an additional 71,028 shares in the last quarter. Empowered Funds LLC grew its holdings in Cummins by 15.3% during the 3rd 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 in the last quarter. Empirical Finance LLC increased its position in shares of 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. CIBC Asset Management Inc lifted its holdings in shares of Cummins by 7.3% in the third quarter. CIBC Asset Management Inc now owns 23,340 shares of the company's stock worth $7,557,000 after buying an additional 1,582 shares in the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Cummins in the third quarter valued at approximately $337,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares of the company's stock, valued at approximately $23,870,722.08. This trade represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,576 shares of company stock valued at $9,033,945 over the last ninety days. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CMI shares. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Cummins from $285.00 to $340.00 and gave the stock an "underweight" rating in a research note on Friday, October 11th. Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Citigroup upped their price objective on shares of Cummins from $345.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Truist Financial lifted their target price on shares of Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and a consensus price target of $334.33.

Cummins Trading Up 0.6 %

Shares of CMI traded up $2.22 during trading hours on Monday, hitting $364.08. The company had a trading volume of 476,089 shares, compared to its average volume of 1,476,599. The firm has a market cap of $49.94 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.77 and a beta of 0.97. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The stock's 50 day moving average price is $328.91 and its 200 day moving average price is $301.77. 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 (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share 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 analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm posted $4.73 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued 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 2.00%. Cummins's dividend payout ratio is currently 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.