935 Shares in Cummins Inc. (NYSE:CMI) Bought by DRW Securities LLC

DRW Securities LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 935 shares of the company’s stock, valued at approximately $303,000.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its stake in Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after buying an additional 972,247 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Cummins during the second quarter worth about $68,018,000. SG Americas Securities LLC increased its position in Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock valued at $54,574,000 after acquiring an additional 179,346 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Cummins during the 2nd quarter worth approximately $46,607,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 1.7 %

CMI opened at $370.79 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market cap of $50.86 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.82 and a beta of 0.97. Cummins Inc. has a one year low of $222.75 and a one year high of $379.66. The business’s fifty day moving average is $340.19 and its two-hundred day moving average is $306.22.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.73 EPS. Analysts anticipate that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.96%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Barclays increased their price target 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. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $337.67.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

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.