Forte Capital LLC ADV Acquires 157 Shares of Cummins Inc. (NYSE:CMI)

Forte Capital LLC ADV raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,787 shares of the company’s stock after buying an additional 157 shares during the period. Forte Capital LLC ADV’s holdings in Cummins were worth $2,521,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CMI. FDx Advisors Inc. bought a new stake in Cummins during the first quarter valued at about $203,000. Signaturefd LLC increased its holdings in Cummins by 5.4% in the 1st quarter. Signaturefd LLC now owns 3,125 shares of the company’s stock worth $921,000 after acquiring an additional 161 shares in the last quarter. Advisory Alpha LLC bought a new stake in Cummins during the 1st quarter worth approximately $225,000. Manchester Capital Management LLC lifted its holdings in Cummins by 6.2% during the first quarter. Manchester Capital Management LLC now owns 932 shares of the company’s stock valued at $275,000 after purchasing an additional 54 shares in the last quarter. Finally, Duality Advisers LP boosted its position in shares of Cummins by 190.3% in the first quarter. Duality Advisers LP now owns 18,440 shares of the company’s stock worth $5,433,000 after purchasing an additional 12,087 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Cummins Stock Up 0.5 %

Cummins stock opened at $356.07 on Thursday. The business has a fifty day moving average price of $321.21 and a 200-day moving average price of $298.27. Cummins Inc. has a 1-year low of $214.57 and a 1-year high of $370.21. The stock has a market capitalization of $48.80 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm posted $4.73 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.04%. Cummins’s dividend payout ratio (DPR) is presently 52.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on CMI shares. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Barclays raised their target price on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial increased their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI lifted their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $324.83.

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.