Strengthening Families & Communities LLC Has $2.87 Million Stake in Cummins Inc. (NYSE:CMI)

Strengthening Families & Communities LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,877 shares of the company’s stock after acquiring an additional 581 shares during the period. Strengthening Families & Communities LLC’s holdings in Cummins were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Cummins in the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new stake in Cummins during the second quarter valued at about $28,000. Lynx Investment Advisory purchased a new stake in shares of Cummins during the second quarter worth about $29,000. LRI Investments LLC purchased a new stake in shares of Cummins during the first quarter worth about $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins during the third quarter worth about $34,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 0.5 %

Shares of NYSE:CMI opened at $361.85 on Monday. The firm has a market cap of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The company has a fifty day simple moving average of $328.91 and a 200 day simple moving average of $301.77. 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 12-month low of $220.02 and a 12-month high of $370.21.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the company posted $4.73 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was 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 approximately $23,870,722.08. The trade was a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,576 shares of company stock worth $9,033,945 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of analyst reports. The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Citigroup lifted their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $334.33.

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.