Amalgamated Bank Purchases 1,664 Shares of Cummins Inc. (NYSE:CMI)

Amalgamated Bank increased its position in Cummins Inc. (NYSE:CMI) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,336 shares of the company’s stock after buying an additional 1,664 shares during the period. Amalgamated Bank’s holdings in Cummins were worth $9,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. FSM Wealth Advisors LLC bought a new position in shares of Cummins during the 3rd quarter worth about $204,000. Moloney Securities Asset Management LLC boosted its position in Cummins by 5.0% in the third quarter. Moloney Securities Asset Management LLC now owns 1,638 shares of the company’s stock valued at $530,000 after buying an additional 78 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Cummins in the third quarter valued at about $2,888,000. Hazlett Burt & Watson Inc. boosted its position in Cummins by 5.1% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,619 shares of the company’s stock valued at $521,000 after buying an additional 79 shares in the last quarter. Finally, Palisades Hudson Asset Management L.P. acquired a new position in shares of Cummins during the third quarter worth approximately $212,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of a number of research reports. Robert W. Baird upped 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. Barclays upped their target price on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Truist Financial increased their price objective on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their target price on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $311.55.

Cummins Price Performance

NYSE:CMI opened at $354.45 on Wednesday. Cummins Inc. has a 52 week low of $214.57 and a 52 week high of $356.68. The firm has a market cap of $48.58 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 1.88 and a beta of 0.97. The firm’s 50-day simple moving average is $320.21 and its 200 day simple moving average is $297.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34.

Cummins Dividend Announcement

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 given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is 52.49%.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated 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 $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, 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. 0.56% of the stock is owned by insiders.

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.