Cummins Inc. (NYSE:CMI) Shares Sold by Leuthold Group LLC

Leuthold Group LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,366 shares of the company’s stock after selling 67 shares during the quarter. Leuthold Group LLC’s holdings in Cummins were worth $2,040,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after purchasing an additional 604,735 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Cummins during the 2nd quarter valued at about $68,018,000. SG Americas Securities LLC grew its position in shares of Cummins by 1,012.0% in the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock valued at $54,574,000 after purchasing an additional 179,346 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Cummins during the 2nd quarter worth approximately $46,607,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Cummins by 129.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 297,001 shares of the company’s stock worth $71,153,000 after purchasing an additional 167,485 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Citigroup started coverage on shares of Cummins in a report on Wednesday, June 26th. They set a “buy” rating and a $320.00 price target for the company. Truist Financial upped their price objective on shares of Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Raymond James assumed coverage on shares of Cummins in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average price target of $299.55.

Insider Buying and Selling at Cummins

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

Cummins Stock Up 2.9 %

Shares of NYSE CMI opened at $309.22 on Friday. The stock has a market capitalization of $42.30 billion, a PE ratio of 22.64, a P/E/G ratio of 1.70 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $297.25 and a 200-day moving average of $287.97. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $322.83.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.18 earnings per share. On average, analysts anticipate that Cummins Inc. will post 19.66 EPS for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, August 23rd. This is an increase from Cummins’s previous quarterly dividend of $1.68. Cummins’s dividend payout ratio is 53.29%.

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.