Cummins Inc. (NYSE:CMI) Stock Holdings Boosted by KG&L Capital Management LLC

KG&L Capital Management LLC lifted its position in Cummins Inc. (NYSE:CMI) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,721 shares of the company’s stock after buying an additional 132 shares during the period. KG&L Capital Management LLC’s holdings in Cummins were worth $1,196,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Cummins in the 2nd quarter valued at about $28,000. Cultivar Capital Inc. acquired a new stake in Cummins during the second quarter valued at approximately $28,000. Lynx Investment Advisory bought a new stake in Cummins during the second quarter worth approximately $29,000. LRI Investments LLC bought a new position in shares of Cummins in the first quarter valued at $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins in the third quarter valued at $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.1 %

Shares of CMI stock opened at $328.51 on Monday. The stock’s 50 day simple moving average is $318.94 and its 200 day simple moving average is $297.15. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $340.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.88 and a beta of 0.97.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter last year, the firm posted $5.18 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Cummins Inc. will post 19.96 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 52.49%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 4,780 shares of the business’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 transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMI. Truist Financial lifted their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Citigroup boosted their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective 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. Robert W. Baird lifted their target price on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays upped their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” 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 given a buy rating to the stock. Based on data from MarketBeat, Cummins presently has an average rating of “Hold” and an average target price of $311.55.

Cummins 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.