Cullinan Associates Inc. Has $4.46 Million Holdings in Cummins Inc. (NYSE:CMI)

Cullinan Associates Inc. trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,315 shares of the company’s stock after selling 3,011 shares during the period. Cullinan Associates Inc.’s holdings in Cummins were worth $4,457,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its holdings in shares of Cummins by 33.3% in the 1st quarter. Brookstone Capital Management now owns 2,232 shares of the company’s stock valued at $658,000 after purchasing an additional 558 shares during the period. Sovereign Financial Group Inc. purchased a new stake in Cummins in the 1st quarter worth approximately $271,000. Aspiriant LLC acquired a new stake in shares of Cummins during the 1st quarter valued at $225,000. Wealthcare Advisory Partners LLC grew its stake in Cummins by 110.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,381 shares of the company’s stock valued at $996,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Cummins by 9.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,761 shares of the company’s stock worth $519,000 after purchasing an additional 151 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company’s 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 directly owns 20,873 shares in the company, valued at $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Cummins Stock Performance

CMI stock traded up $0.69 during trading on Friday, reaching $333.17. 11,446 shares of the stock were exchanged, compared to its average volume of 1,536,501. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $340.82. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $45.57 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The stock has a 50 day simple moving average of $315.05 and a 200-day simple moving average of $295.57.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.18 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is 53.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup boosted their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their target price on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Truist Financial boosted their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Raymond James began coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $311.55.

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.