Entropy Technologies LP Has $931,000 Position in Cummins Inc. (NYSE:CMI)

Entropy Technologies LP cut its position in shares of Cummins Inc. (NYSE:CMI) by 77.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,876 shares of the company’s stock after selling 10,095 shares during the period. Entropy Technologies LP’s holdings in Cummins were worth $931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its stake in 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 during the period. International Assets Investment Management LLC raised its stake in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock valued at $2,342,001,000 after purchasing an additional 604,735 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Cummins during the second quarter worth $68,018,000. Finally, SG Americas Securities LLC increased its holdings 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 valued at $54,574,000 after purchasing an additional 179,346 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CMI shares. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a report on Wednesday. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Truist Financial lifted their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Finally, Citigroup lifted their price objective on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $334.33.

Insider Activity

In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,456,419.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,413 shares of company stock worth $8,249,879. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $366.34 on Thursday. Cummins Inc. has a 1 year low of $220.02 and a 1 year high of $370.21. The stock has a market capitalization of $50.25 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company’s 50 day simple moving average is $324.91 and its 200 day simple moving average is $300.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company posted $4.73 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts predict that Cummins Inc. will post 20.44 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.99%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

About Cummins

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.