Natixis Advisors LLC Buys 2,092 Shares of Cummins Inc. (NYSE:CMI)

Natixis Advisors LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 98,665 shares of the company’s stock after buying an additional 2,092 shares during the quarter. Natixis Advisors LLC’s holdings in Cummins were worth $31,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TIAA Trust National Association lifted its position in Cummins by 26.7% in the first quarter. TIAA Trust National Association now owns 3,011 shares of the company’s stock worth $887,000 after purchasing an additional 634 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Cummins in the 1st quarter valued at $949,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cummins by 17.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,769 shares of the company’s stock worth $9,361,000 after acquiring an additional 4,748 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Cummins during the 1st quarter valued at about $236,000. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Cummins in the first quarter valued at about $256,000. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

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 sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,576 shares of company stock valued at $9,033,945. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Barclays upped their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup upped 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cummins has a consensus rating of “Hold” and an average price target of $334.33.

Cummins Trading Down 0.5 %

CMI opened at $361.85 on Monday. Cummins Inc. has a 1-year low of $220.02 and a 1-year high of $370.21. The firm has a 50-day moving average price of $328.91 and a two-hundred day moving average price of $301.77. The stock has a market capitalization of $49.64 billion, a PE ratio of 23.90, a PEG ratio of 1.77 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 EPS. As a group, equities analysts anticipate that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. Cummins’s payout ratio is 48.08%.

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.