Rep. Jared Moskowitz Purchases Shares of Cummins Inc. (NYSE:CMI)

Representative Jared Moskowitz (D-Florida) recently bought shares of Cummins Inc. NYSE: CMI. In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Cummins stock on November 8th. The trade occurred in the Representative's "MORGAN STANLEY ACTIVE ASSETS (5)" account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Elevance Health NYSE: ELV on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Tractor Supply NASDAQ: TSCO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 11/8/2024.
• Sold $50,001 - $100,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.
• Sold $15,001 - $50,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.

Cummins Stock Down 0.9 %

Shares of NYSE CMI traded down $3.58 during mid-day trading on Tuesday, reaching $379.84. 258,508 shares of the company traded hands, compared to its average volume of 1,418,032. The company's fifty day moving average is $349.67 and its two-hundred day moving average is $311.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The stock has a market cap of $52.11 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business 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 earned $4.73 EPS. Cummins's quarterly revenue was up .3% compared to the same quarter last year. On average, analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins's dividend payout ratio is presently 48.08%.

Institutional Investors Weigh In On Cummins

Hedge funds and other institutional investors have recently bought and sold shares of the business. Czech National Bank lifted its stake in Cummins by 8.7% during the second quarter. Czech National Bank now owns 26,064 shares of the company's stock worth $7,218,000 after purchasing an additional 2,084 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Cummins by 11.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,970 shares of the company's stock valued at $823,000 after buying an additional 302 shares during the last quarter. Bangor Savings Bank grew its holdings in Cummins by 39.2% in the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company's stock worth $39,000 after acquiring an additional 40 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Cummins by 8.3% during the second quarter. Wedmont Private Capital now owns 1,228 shares of the company's stock valued at $350,000 after acquiring an additional 94 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Cummins during the second quarter valued at approximately $2,180,000. Institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMI shares. Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Truist Financial boosted their price target 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. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $352.85.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The stock was 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 owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last three months. Company insiders own 0.56% of the company's stock.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida's 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida's 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state's Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor's degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz's career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

Cummins Company 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.