Cummins Inc. (NYSE:CMI) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166 shares of the company’s stock after buying an additional 38 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Cummins were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Fisher Asset Management LLC boosted its holdings in Cummins by 4.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,587,895 shares of the company’s stock worth $619,982,000 after buying an additional 103,018 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after buying an additional 26,977 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Cummins by 4.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,398,061 shares of the company’s stock valued at $334,933,000 after buying an additional 64,365 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Cummins by 5.6% in the first quarter. Nordea Investment Management AB now owns 911,720 shares of the company’s stock valued at $268,492,000 after buying an additional 48,211 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Raymond James assumed coverage on Cummins in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays lifted their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Citigroup began coverage on shares of Cummins in a research note on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of Cummins from $315.00 to $349.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $299.55.

Cummins Price Performance

Cummins stock opened at $313.52 on Tuesday. The firm’s 50-day moving average is $298.21 and its two-hundred day moving average is $288.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The stock has a market capitalization of $42.88 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.70 and a beta of 0.98. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $322.83.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. Cummins’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $5.18 earnings per share. Equities analysts predict that Cummins Inc. will post 19.66 earnings per share 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 paid a $1.82 dividend. This is a positive change from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, August 23rd. Cummins’s dividend payout ratio is presently 53.29%.

Insider Buying and Selling

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins 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 completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred 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 directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the business’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 completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

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.