Integrity Alliance LLC. Trims Position in Cummins Inc. $CMI

Integrity Alliance LLC. cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,972 shares of the company’s stock after selling 242 shares during the period. Integrity Alliance LLC.’s holdings in Cummins were worth $1,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CMI. Brighton Jones LLC increased its stake in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after buying an additional 83 shares during the period. Rossby Financial LCC purchased a new position in shares of Cummins during the first quarter valued at approximately $45,000. Private Trust Co. NA increased its stake in shares of Cummins by 18.3% during the first quarter. Private Trust Co. NA now owns 1,670 shares of the company’s stock valued at $523,000 after buying an additional 258 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Cummins by 45.8% in the 1st quarter. Teacher Retirement System of Texas now owns 124,105 shares of the company’s stock valued at $38,899,000 after purchasing an additional 39,003 shares during the period. Finally, Mutual Advisors LLC lifted its stake in shares of Cummins by 7.8% in the 1st quarter. Mutual Advisors LLC now owns 2,606 shares of the company’s stock valued at $764,000 after purchasing an additional 188 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Truist Financial raised their target price on Cummins from $380.00 to $434.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Tuesday, October 14th. Robert W. Baird raised their target price on Cummins from $315.00 to $355.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, Citigroup raised their target price on Cummins from $425.00 to $485.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.50.

Insiders Place Their Bets

In other Cummins news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the completion of the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This trade represents a 19.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen H. Quintos sold 1,307 shares of Cummins stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the completion of the sale, the director directly owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. The trade was a 20.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,319 shares of company stock worth $17,764,105 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Up 0.1%

Shares of NYSE:CMI opened at $438.34 on Friday. The stock has a fifty day simple moving average of $415.90 and a two-hundred day simple moving average of $362.73. The stock has a market capitalization of $60.40 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.05 and a beta of 1.04. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $449.21. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. The business had revenue of $8.64 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.26 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.8%. Cummins’s dividend payout ratio (DPR) is presently 37.61%.

About Cummins

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.