Cummins Inc. $CMI Stock Position Trimmed by 111 Capital

111 Capital trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 67.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 885 shares of the company’s stock after selling 1,832 shares during the period. 111 Capital’s holdings in Cummins were worth $374,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins during the third quarter worth approximately $28,000. Osterweis Capital Management Inc. bought a new stake in Cummins during the 2nd quarter valued at $31,000. Guerra Advisors Inc bought a new stake in Cummins during the 3rd quarter valued at $36,000. Salomon & Ludwin LLC boosted its position in Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares during the period. Finally, Tripletail Wealth Management LLC bought a new position in shares of Cummins in the third quarter worth $39,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 4,270 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total value of $2,497,651.10. Following the completion of the transaction, the vice president directly owned 15,130 shares in the company, valued at $8,849,990.90. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,141 shares of company stock worth $16,121,817 over the last three months. Company insiders own 0.41% of the company’s stock.

Cummins Trading Down 3.5%

Shares of NYSE:CMI opened at $559.82 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The stock has a market capitalization of $77.34 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.84 and a beta of 1.12. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The company has a 50 day moving average price of $568.58 and a 200 day moving average price of $488.03.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.16 EPS. On average, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s dividend payout ratio is currently 38.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CMI shares. Morgan Stanley reissued an “overweight” rating and set a $675.00 price target on shares of Cummins in a report on Friday, February 6th. Argus set a $696.00 target price on shares of Cummins in a research report on Tuesday, February 10th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Truist Financial reaffirmed a “buy” rating and issued a $703.00 price target (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. Finally, Robert W. Baird set a $580.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $588.93.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.