SG Americas Securities LLC raised its stake in Cummins Inc. (NYSE:CMI – Free Report) by 257.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 736,670 shares of the company’s stock after acquiring an additional 530,812 shares during the quarter. SG Americas Securities LLC’s holdings in Cummins were worth $396,343,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nicolet Advisory Services LLC raised its holdings in shares of Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after purchasing an additional 17 shares during the period. Uhlmann Price Securities LLC lifted its stake in Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after purchasing an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares during the period. Financial Consulate Inc. increased its position in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after buying an additional 18 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its position in Cummins by 2.6% in the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after buying an additional 18 shares during the last quarter. 83.46% of the stock is owned by institutional investors.
Cummins Trading Down 0.1%
Shares of CMI stock opened at $716.50 on Monday. The stock has a market capitalization of $98.87 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.74 and a beta of 1.24. The company’s fifty day simple moving average is $663.00 and its two-hundred day simple moving average is $591.35. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $737.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.
Cummins Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.1%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.
Insiders Place Their Bets
In other Cummins news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the transaction, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the sale, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,579 shares of company stock worth $9,377,684 over the last quarter. Insiders own 0.30% of the company’s stock.
Analyst Upgrades and Downgrades
CMI has been the topic of a number of recent research reports. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Wells Fargo & Company lifted their price objective on Cummins from $794.00 to $874.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial set a $815.00 price objective on Cummins in a research note on Wednesday, May 6th. Barclays boosted their price objective on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group reiterated a “buy” rating on shares of Cummins in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $731.86.
View Our Latest Research Report on Cummins
About Cummins
Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.
The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.
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