1,215 Cummins Inc. $CMI Shares Sold by Columbus Macro LLC

Columbus Macro LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,945 shares of the company’s stock after selling 1,215 shares during the quarter. Columbus Macro LLC’s holdings in Cummins were worth $7,720,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CMI. Cedar Mountain Advisors LLC grew its stake in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Cummins during the second quarter worth about $26,000. Key Financial Inc raised its stake in Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in Cummins by 91.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 22 shares in the last quarter. Finally, Steph & Co. boosted its stake in shares of Cummins by 112.9% in the first quarter. Steph & Co. now owns 66 shares of the company’s stock valued at $36,000 after buying an additional 35 shares during the period. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMI. DA Davidson increased their target price on Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. CICC Research initiated coverage on Cummins in a research note on Sunday, August 23rd. They issued an “outperform” rating and a $781.00 price target for the company. Truist Financial dropped their price target on Cummins from $894.00 to $779.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Bank of America cut their price objective on shares of Cummins from $731.00 to $600.00 in a research report on Thursday, September 24th. Finally, UBS Group reduced their price objective on shares of Cummins from $835.00 to $741.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $708.18.

Cummins Price Performance

NYSE:CMI traded down $3.96 during mid-day trading on Wednesday, reaching $525.39. The stock had a trading volume of 1,213,264 shares, compared to its average volume of 988,416. The stock has a 50-day simple moving average of $562.88 and a two-hundred day simple moving average of $620.45. The stock has a market capitalization of $72.33 billion, a PE ratio of 26.85, a P/E/G ratio of 1.39 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. Cummins Inc. has a 12 month low of $405.82 and a 12 month high of $737.76.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same quarter in the prior year, the firm earned $6.43 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 30.10 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be paid a $2.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $8.80 annualized dividend and a dividend yield of 1.7%. Cummins’s dividend payout ratio (DPR) is presently 44.97%.

Insider Activity

In other news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.