Cummins Inc. (NYSE:CMI) Stock Holdings Decreased by Baldwin Investment Management LLC

Baldwin Investment Management LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,075 shares of the company’s stock after selling 35 shares during the period. Baldwin Investment Management LLC’s holdings in Cummins were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC lifted its stake in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after purchasing an additional 26,977 shares during the period. Legal & General Group Plc lifted its stake in shares of Cummins by 1.9% in the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after buying an additional 31,190 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after buying an additional 9,245 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Up 0.6 %

Shares of NYSE:CMI opened at $377.59 on Wednesday. The company has a market capitalization of $51.80 billion, a PE ratio of 24.94, a P/E/G ratio of 1.82 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company’s fifty day moving average is $338.79 and its 200-day moving average is $305.77. Cummins Inc. has a 52 week low of $222.04 and a 52 week high of $377.69.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating 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 company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.73 earnings per share. Equities research analysts predict that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 1.93%. Cummins’s dividend payout ratio is 48.08%.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Barclays raised their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Truist Financial increased their price target on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $337.67.

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.