Realta Investment Advisors Sells 3,225 Shares of Cummins Inc. (NYSE:CMI)

Realta Investment Advisors trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 71.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,303 shares of the company’s stock after selling 3,225 shares during the period. Realta Investment Advisors’ holdings in Cummins were worth $441,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Cummins by 8.2% in 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 period. Pathway Financial Advisers LLC grew its position 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 acquiring an additional 2,523,854 shares during the period. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 26,977 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cummins by 1.9% during the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after acquiring an additional 31,190 shares during the period. Finally, Marshfield Associates boosted its stake in shares of Cummins by 0.3% in the 2nd quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock valued at $288,699,000 after purchasing an additional 3,076 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cummins

In other Cummins news, 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 transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $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 available through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins 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 completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Cummins Stock Down 0.1 %

CMI stock traded down $0.47 during mid-day trading on Friday, reaching $328.51. The company had a trading volume of 387,603 shares, compared to its average volume of 1,514,713. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.90 and a beta of 0.98. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $340.82. The stock has a 50 day simple moving average of $318.94 and a two-hundred day simple moving average of $297.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last released its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.41. The business had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $5.18 earnings per share. As a group, equities analysts predict that Cummins Inc. will post 19.96 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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 issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is presently 52.49%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMI. Truist Financial lifted 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. JPMorgan Chase & Co. increased their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Barclays increased their target price on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cummins has an average rating of “Hold” and a consensus target price of $311.55.

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.