Prospera Private Wealth LLC Makes New $32,000 Investment in Cummins Inc. (NYSE:CMI)

Prospera Private Wealth LLC purchased a new stake in shares of Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 100 shares of the company’s stock, valued at approximately $32,000.

Several other large investors have also made changes to their positions in the company. Chicago Capital LLC grew its position in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after acquiring an additional 30 shares in the last quarter. Equitable Trust Co. boosted its holdings in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in Cummins by 0.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after buying an additional 35 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after buying an additional 38 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. This trade represents a 9.42 % 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 link. Over the last ninety days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CMI. Truist Financial increased their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays upped their price objective 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. Citigroup boosted their target price on shares of Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $337.67.

Cummins Price Performance

Shares of NYSE:CMI opened at $372.66 on Friday. The business’s 50 day moving average is $335.78 and its 200-day moving average is $304.41. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $51.12 billion, a PE ratio of 24.61, a PEG ratio of 1.77 and a beta of 0.97. Cummins Inc. has a 1-year low of $222.04 and a 1-year high of $373.35.

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. The firm 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%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.73 EPS. Sell-side analysts predict that Cummins Inc. will post 20.57 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 1.95%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is 48.08%.

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.