Cummins Inc. (NYSE:CMI) Shares Sold by Kades & Cheifetz LLC

Kades & Cheifetz LLC reduced its stake in Cummins Inc. (NYSE:CMI) by 43.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,281 shares of the company’s stock after selling 1,723 shares during the quarter. Kades & Cheifetz LLC’s holdings in Cummins were worth $795,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CMI. Acadian Asset Management LLC increased its position in shares of Cummins by 1,194.7% in the 2nd quarter. Acadian Asset Management LLC now owns 6,098 shares of the company’s stock valued at $1,688,000 after purchasing an additional 5,627 shares during the last quarter. Federated Hermes Inc. boosted its stake in Cummins by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 14,463 shares of the company’s stock worth $4,005,000 after purchasing an additional 4,384 shares during the period. Thoroughbred Financial Services LLC acquired a new stake in shares of Cummins in the 2nd quarter worth $321,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Cummins by 34.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,956 shares of the company’s stock worth $819,000 after acquiring an additional 758 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Cummins by 1.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 640,999 shares of the company’s stock worth $177,512,000 after acquiring an additional 8,082 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

CMI stock traded up $5.15 during trading on Monday, hitting $360.03. 329,079 shares of the company’s stock traded hands, compared to its average volume of 536,113. The stock has a fifty day moving average price of $361.92 and a two-hundred day moving average price of $325.03. The stock has a market capitalization of $49.39 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share 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 net margin of 6.13% and a return on equity of 26.86%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.73 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, November 22nd. Cummins’s payout ratio is currently 48.08%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CMI. Citigroup raised their price objective on shares of Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $363.50.

Cummins Company 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.