Realta Investment Advisors Sells 3,225 Shares of Cummins Inc. (NYSE:CMI)

Realta Investment Advisors decreased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 71.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,303 shares of the company's stock after selling 3,225 shares during the period. Realta Investment Advisors' holdings in Cummins were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMI. Norden Group LLC acquired a new stake in shares of Cummins in the 1st quarter worth about $1,436,000. Van ECK Associates Corp raised its holdings in shares of Cummins by 6.9% during the first quarter. Van ECK Associates Corp now owns 20,705 shares of the company's stock valued at $6,101,000 after buying an additional 1,334 shares during the last quarter. Private Advisor Group LLC grew its holdings in Cummins by 3.4% in the 1st quarter. Private Advisor Group LLC now owns 19,296 shares of the company's stock worth $5,686,000 after buying an additional 641 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Cummins in the 1st quarter valued at approximately $526,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Cummins by 9.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,389 shares of the company's stock valued at $13,374,000 after acquiring an additional 3,861 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Cummins from $295.00 to $315.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Citigroup raised their target price on shares of Cummins from $345.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Truist Financial upped their price target on shares of Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Barclays upped their target price on Cummins from $259.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Finally, Evercore ISI boosted their price objective on Cummins from $290.00 to $294.00 and gave the stock an "in-line" rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cummins presently has an average rating of "Hold" and an average target price of $311.55.

Insider Buying and Selling at Cummins

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. In other news, SVP Tony Satterthwaite sold 24,250 shares of the company's stock in a transaction 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 transaction, the senior vice president now directly owns 77,442 shares of the company's stock, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company's stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Cummins Trading Down 0.1 %

Shares of Cummins stock traded down $0.47 during trading on Friday, hitting $328.51. The stock had a trading volume of 387,603 shares, compared to its average volume of 1,514,713. The stock has a 50 day simple moving average of $318.94 and a 200 day simple moving average of $297.11. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $340.82. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $45.02 billion, a PE ratio of 23.68, a P/E/G ratio of 1.90 and a beta of 0.98.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. The business had revenue of $8.80 billion during the quarter, compared to analysts' expectations of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.18 earnings per share. On average, research analysts expect that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.22%. Cummins's dividend payout ratio (DPR) is presently 52.49%.

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.