Entropy Technologies LP Sells 10,095 Shares of Cummins Inc. (NYSE:CMI)

Entropy Technologies LP decreased its position in shares of Cummins Inc. (NYSE:CMI) by 77.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,876 shares of the company’s stock after selling 10,095 shares during the period. Entropy Technologies LP’s holdings in Cummins were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CMI. Koshinski Asset Management Inc. lifted its position in Cummins by 59.5% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,496 shares of the company’s stock worth $441,000 after buying an additional 558 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cummins by 13.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock worth $55,073,000 after purchasing an additional 21,850 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Cummins by 45.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,462 shares of the company’s stock worth $1,020,000 after buying an additional 1,087 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Cummins in the 1st quarter valued at $43,081,000. Finally, Blair William & Co. IL increased its stake in shares of Cummins by 58.9% in the 1st quarter. Blair William & Co. IL now owns 23,724 shares of the company’s stock valued at $6,990,000 after buying an additional 8,793 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,456,419.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,413 shares of company stock valued at $8,249,879 over the last three months. Company insiders own 0.56% of the company’s stock.

Cummins Trading Up 3.2 %

NYSE CMI opened at $366.34 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The stock’s 50-day moving average is $324.91 and its 200-day moving average is $300.14. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21. The firm has a market cap of $50.25 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.75 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.73 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 20.44 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.99%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Analyst Ratings Changes

CMI has been the topic of several recent research reports. Citigroup raised their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research 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 assigned a strong buy rating to the company. According to MarketBeat, Cummins presently has an average 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.