Quadrature Capital Ltd Has $853,000 Stake in Cummins Inc. (NYSE:CMI)

Quadrature Capital Ltd lessened its stake in Cummins Inc. (NYSE:CMI - Free Report) by 92.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,637 shares of the company's stock after selling 33,712 shares during the period. Quadrature Capital Ltd's holdings in Cummins were worth $853,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PFG Investments LLC grew its position in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company's stock worth $725,000 after buying an additional 485 shares during the period. CWM LLC grew its holdings in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company's stock worth $3,908,000 after acquiring an additional 1,786 shares during the period. Distillate Capital Partners LLC raised its position in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company's stock valued at $16,361,000 after acquiring an additional 59,027 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Cummins in the 3rd quarter valued at $748,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Cummins in the 2nd quarter worth $856,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Up 0.3 %

Shares of Cummins stock traded up $1.03 during trading hours on Friday, reaching $379.60. 752,410 shares of the company's stock were exchanged, compared to its average volume of 519,641. The stock has a market cap of $52.07 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.84 and a beta of 0.99. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $382.86. The company has a 50 day moving average of $348.47 and a two-hundred day moving average of $310.51. 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 (NYSE:CMI - Get Free Report) last issued 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations 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, sell-side analysts forecast that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Vertical Research downgraded shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Citigroup lifted their price objective on shares of Cummins from $375.00 to $415.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped 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. Finally, Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cummins has a consensus rating of "Hold" and an average price target of $345.15.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by insiders.

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.