Cummins Inc. (NYSE:CMI) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 146.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 370 shares of the company’s stock after buying an additional 220 shares during the period. Pittenger & Anderson Inc.’s holdings in Cummins were worth $129,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC raised its position in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. Pathway Financial Advisers LLC raised 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 purchasing an additional 2,523,854 shares during the period. FMR LLC lifted its stake in shares of Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after buying an additional 972,247 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 1.2 %

NYSE:CMI opened at $373.71 on Tuesday. The company has a market cap of $51.27 billion, a PE ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. The business’s 50 day moving average is $361.09 and its two-hundred day moving average is $339.39. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the business posted $4.14 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.95%. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMI shares. Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $383.08.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

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.