372 Shares in Cummins Inc. $CMI Purchased by CYBER HORNET ETFs LLC

CYBER HORNET ETFs LLC bought a new position in Cummins Inc. (NYSE:CMI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 372 shares of the company’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the period. Stephens Inc. AR increased its position in Cummins by 37.8% in the first quarter. Stephens Inc. AR now owns 1,879 shares of the company’s stock worth $589,000 after buying an additional 515 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Cummins by 19.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,265 shares of the company’s stock valued at $396,000 after buying an additional 209 shares during the period. Wealthfront Advisers LLC lifted its position in shares of Cummins by 1.5% during the 1st quarter. Wealthfront Advisers LLC now owns 10,788 shares of the company’s stock valued at $3,381,000 after buying an additional 161 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Cummins by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 210,922 shares of the company’s stock valued at $66,111,000 after buying an additional 12,284 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Robert Enright sold 1,860 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the transaction, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. This represents a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Rumsey sold 4,570 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer directly owned 42,880 shares in the company, valued at $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 38,127 shares of company stock worth $16,993,030. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Melius raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, September 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a report on Friday, November 7th. Barclays boosted their target price on shares of Cummins from $430.00 to $515.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Truist Financial raised their price target on Cummins from $434.00 to $522.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $445.93.

Cummins Stock Performance

Cummins stock opened at $461.54 on Friday. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $484.84. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $63.71 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The firm’s 50 day simple moving average is $428.42 and its 200 day simple moving average is $374.95.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The firm had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. During the same period in the previous year, the business earned $5.86 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts expect 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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, November 21st. Cummins’s dividend payout ratio is currently 41.52%.

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.