100 Shares in Cummins Inc. (NYSE:CMI) Acquired by Prospera Private Wealth LLC

Prospera Private Wealth LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 100 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pathway Financial Advisers LLC increased its stake in shares of Cummins by 31,489.1% in the third 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. International Assets Investment Management LLC grew its holdings in Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Cummins in the 2nd quarter valued at about $68,018,000. SG Americas Securities LLC raised its stake in shares of Cummins by 1,012.0% in the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after acquiring an additional 179,346 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Cummins during the second quarter worth approximately $46,607,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.5 %

CMI opened at $372.66 on Friday. The firm’s fifty day moving average is $335.78 and its two-hundred day moving average is $304.41. The firm has a market cap of $51.12 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Cummins Inc. has a twelve month low of $222.04 and a twelve month high of $373.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

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

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors 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 dividend on an annualized basis and a yield of 1.95%. Cummins’s payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMI. The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Robert W. Baird upped their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup boosted their price objective on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $337.67.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated 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 transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,456,419.29. This represents a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. Company insiders own 0.56% of the company’s stock.

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.