Entropy Technologies LP Sells 10,095 Shares of Cummins Inc. (NYSE:CMI)

Entropy Technologies LP reduced its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 77.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,876 shares of the company's stock after selling 10,095 shares during the quarter. Entropy Technologies LP's holdings in Cummins were worth $931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its stake in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after buying an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC raised its stake in Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock worth $315,616,000 after purchasing an additional 972,247 shares during the period. Price T Rowe Associates Inc. MD grew its position in Cummins by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company's stock valued at $2,342,001,000 after acquiring an additional 604,735 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Cummins during the 2nd quarter worth about $68,018,000. Finally, SG Americas Securities LLC grew its stake in Cummins by 1,012.0% during the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company's stock worth $54,574,000 after buying an additional 179,346 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

CMI stock traded down $3.69 during trading on Thursday, hitting $362.65. The company had a trading volume of 177,638 shares, compared to its average volume of 1,483,354. The business has a 50 day moving average of $326.20 and a 200 day moving average of $300.60. The firm has a market capitalization of $49.75 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 1.75 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a fifty-two week low of $220.02 and a fifty-two week high of $370.21.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping 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 the consensus estimate of $8.29 billion. During the same period in the prior year, the firm posted $4.73 earnings per share. The firm's revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts predict that Cummins Inc. will post 20.44 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins's payout ratio is currently 48.08%.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,456,419.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Tony Satterthwaite sold 24,250 shares of the 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 completion of the sale, the senior vice president now directly owns 77,442 shares of the company's stock, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sharon R. Barner sold 2,001 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the sale, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,456,419.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,413 shares of company stock worth $8,249,879. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on CMI shares. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Barclays increased their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an "equal weight" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an "underweight" rating in a research report on Friday, October 11th. Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $334.33.

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.