29,458 Shares in Cummins Inc. (NYSE:CMI) Bought by Executive Wealth Management LLC

Executive Wealth Management LLC bought a new position in Cummins Inc. (NYSE:CMI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,458 shares of the company's stock, valued at approximately $9,538,000.

Other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC lifted its position in Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company's stock valued at $725,000 after purchasing an additional 485 shares during the period. CWM LLC lifted its holdings in shares of Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company's stock valued at $3,908,000 after buying an additional 1,786 shares during the period. Distillate Capital Partners LLC boosted its stake in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company's stock worth $16,361,000 after buying an additional 59,027 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Cummins in the third quarter worth $748,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Cummins during the second quarter valued at $856,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CMI shares. 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 note on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Truist Financial boosted their price objective 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. Finally, JPMorgan Chase & Co. raised Cummins from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $355.00 to $420.00 in a report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $352.85.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last 90 days. Corporate insiders own 0.56% of the company's stock.

Cummins Price Performance

CMI traded down $5.55 on Tuesday, hitting $377.87. 641,313 shares of the company's stock traded hands, compared to its average volume of 1,419,781. The company's 50 day simple moving average is $349.67 and its 200-day simple moving average is $311.38. 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 one year low of $226.52 and a one year high of $387.90. The firm has a market cap of $51.84 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 1.84 and a beta of 0.99.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for 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%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $4.73 earnings per share. As a group, research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins's dividend payout ratio (DPR) is presently 48.08%.

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.