Cummins Inc. (NYSE:CMI) Stock Position Raised by Moloney Securities Asset Management LLC

by · The Cerbat Gem

Moloney Securities Asset Management LLC lifted its stake in Cummins Inc. (NYSE:CMI – Free Report) by 5.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,638 shares of the company’s stock after acquiring an additional 78 shares during the period. Moloney Securities Asset Management LLC’s holdings in Cummins were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CMI. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins in the 2nd quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new position in shares of Cummins in the 2nd quarter valued at approximately $28,000. Lynx Investment Advisory bought a new position in shares of Cummins in the 2nd quarter valued at approximately $29,000. LRI Investments LLC acquired a new stake in Cummins in the 1st quarter valued at approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Cummins in the 3rd quarter valued at approximately $34,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

Shares of NYSE:CMI opened at $356.07 on Thursday. Cummins Inc. has a 1-year low of $214.57 and a 1-year high of $370.21. The firm has a market capitalization of $48.80 billion, a PE ratio of 25.67, a PEG ratio of 1.88 and a beta of 0.97. The business’s 50 day moving average is $321.21 and its 200-day moving average is $298.27. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $4.73 EPS. Sell-side analysts predict that Cummins Inc. will post 19.96 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.04%. Cummins’s dividend payout ratio (DPR) is presently 52.49%.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on 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 approximately $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Evercore ISI raised their target price on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Citigroup raised their target price on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $324.83.

Read Our Latest Stock Report on CMI

Cummins Profile

(Free Report)

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.

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