Cummins Inc. (NYSE:CMI) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. grew its position in Cummins Inc. (NYSE:CMI) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,839 shares of the company’s stock after acquiring an additional 87 shares during the period. Great Valley Advisor Group Inc.’s holdings in Cummins were worth $920,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Cummins in the 2nd quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the 2nd quarter valued at approximately $29,000. LRI Investments LLC acquired a new stake in Cummins in the 1st quarter valued at $31,000. Finally, Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter worth $32,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. Insiders own 0.56% of the company’s stock.

Cummins Trading Up 0.7 %

Shares of CMI stock opened at $375.32 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a twelve month low of $222.04 and a twelve month high of $377.64. The company’s 50-day moving average price is $337.27 and its 200-day moving average price is $305.21. The stock has a market cap of $51.49 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.81 and a beta of 0.97.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $4.73 EPS. As a group, equities analysts predict that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 1.94%. Cummins’s dividend payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CMI shares. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Truist Financial lifted their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup lifted their price target on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $337.67.

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.