Cummins Inc. (NYSE:CMI) Stock Holdings Decreased by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 59.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,894 shares of the company's stock after selling 2,745 shares during the period. GSA Capital Partners LLP's holdings in Cummins were worth $613,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Cummins by 8.2% in 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 purchasing an additional 604,735 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of 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. Dimensional Fund Advisors LP grew its position in shares of Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock valued at $469,869,000 after buying an additional 26,977 shares during the last quarter. Legal & General Group Plc raised its stake in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock worth $468,503,000 after acquiring an additional 31,190 shares in the last quarter. Finally, Marshfield Associates lifted its position in Cummins by 0.3% in the second quarter. Marshfield Associates now owns 1,042,498 shares of the company's stock valued at $288,699,000 after acquiring an additional 3,076 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

CMI has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Cummins from $285.00 to $340.00 and gave the company an "underweight" rating in a report on Friday, October 11th. Barclays increased their price objective on Cummins from $259.00 to $310.00 and gave the company an "equal weight" rating in a report on Monday, August 5th. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $334.33.

Cummins Trading Down 0.6 %

Shares of CMI stock traded down $2.16 during mid-day trading on Tuesday, reaching $361.86. The company's stock had a trading volume of 418,969 shares, compared to its average volume of 1,471,877. The company's 50 day simple moving average is $330.26 and its 200-day simple moving average is $302.36. 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 Inc. has a 12-month low of $220.02 and a 12-month high of $370.21. The firm has a market capitalization of $49.64 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.73 EPS. On average, research analysts predict that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given 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 yield of 2.01%. Cummins's dividend payout ratio (DPR) is presently 48.08%.

Insider Transactions at Cummins

In other news, SVP Tony Satterthwaite sold 24,250 shares of the company's stock in a transaction on Friday, August 23rd. The stock was 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 $23,870,722.08. This represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,576 shares of company stock valued at $9,033,945. 0.56% of the stock is currently owned by corporate insiders.

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.