Cummins Inc. (NYSE:CMI) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Cummins Inc. (NYSE:CMI) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,594 shares of the company’s stock after acquiring an additional 208 shares during the quarter. Federated Hermes Inc.’s holdings in Cummins were worth $2,298,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Cummins in the third quarter valued at approximately $25,000. Silver Oak Securities Incorporated acquired a new stake in shares of Cummins in the third quarter valued at approximately $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of Cummins during the third quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Cummins during the third quarter worth approximately $39,000. Finally, Peoples Bank KS purchased a new stake in shares of Cummins during the third quarter worth approximately $43,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Evercore ISI upped their price target on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. TD Cowen upped their price target on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and upped their price target for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, Truist Financial initiated coverage on Cummins in a research note on Thursday, March 14th. They set a “hold” rating and a $303.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average target price of $279.70.

Cummins Trading Down 0.2 %

Shares of CMI stock opened at $291.14 on Monday. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The stock has a market cap of $39.82 billion, a P/E ratio of 56.20, a P/E/G ratio of 1.98 and a beta of 1.04. The business has a fifty day simple moving average of $283.34 and a 200-day simple moving average of $250.92. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.52 EPS. On average, analysts forecast that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is currently 129.73%.

Insider Activity at Cummins

In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 over the last quarter. Insiders own 0.56% of the company’s stock.

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.