2,310 Shares in Cummins Inc. (NYSE:CMI) Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,310 shares of the company’s stock, valued at approximately $748,000.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC increased its position in Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after buying an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Cummins in the 2nd quarter worth about $68,018,000. SG Americas Securities LLC boosted its stake in Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after purchasing an additional 179,346 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Cummins during the 2nd quarter valued at about $46,607,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of NYSE:CMI opened at $372.62 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $51.12 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. The firm’s 50 day moving average price is $335.78 and its 200-day moving average price is $304.53. Cummins Inc. has a twelve month low of $222.04 and a twelve month high of $373.35.

Cummins (NYSE:CMI) last released its quarterly earnings results 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the firm earned $4.73 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is presently 48.08%.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays increased their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Citigroup boosted their price target on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Two equities 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $337.67.

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.