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

Entropy Technologies LP lowered its stake in Cummins Inc. (NYSE:CMI - Free Report) by 77.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,876 shares of the company's stock after selling 10,095 shares during the period. Entropy Technologies LP's holdings in Cummins were worth $931,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CMI. Price T Rowe Associates Inc. MD raised its holdings in Cummins by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company's stock worth $2,342,001,000 after acquiring an additional 604,735 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cummins by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock valued at $469,869,000 after purchasing an additional 26,977 shares during the period. Legal & General Group Plc increased its position in Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock worth $468,503,000 after buying an additional 31,190 shares during the period. Finally, Marshfield Associates lifted its holdings in shares of Cummins by 0.3% during the second quarter. Marshfield Associates now owns 1,042,498 shares of the company's stock worth $288,699,000 after buying an additional 3,076 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Price Performance

CMI stock traded down $3.69 during trading on Thursday, hitting $362.65. 177,638 shares of the stock traded hands, compared to its average volume of 1,483,354. The stock has a market cap 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. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $326.20 and a 200 day simple moving average of $300.60.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results 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. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.73 earnings per share. Equities analysts expect that Cummins Inc. will post 20.44 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm 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. This represents a $7.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, November 22nd. Cummins's payout ratio is presently 48.08%.

Insider Transactions at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction dated 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 owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 2,001 shares of the business's stock in a transaction 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 completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,456,419.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,413 shares of company stock worth $8,249,879. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMI. 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. Vertical Research lowered Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. StockNews.com upgraded Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $294.00 to $408.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $334.33.

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.