18,068 Cummins Inc. $CMI Shares Purchased by Kintegral Advisory LLC

Kintegral Advisory LLC grew its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 223.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,140 shares of the company’s stock after purchasing an additional 18,068 shares during the period. Cummins makes up 1.0% of Kintegral Advisory LLC’s portfolio, making the stock its 26th biggest holding. Kintegral Advisory LLC’s holdings in Cummins were worth $13,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Persistent Asset Partners Ltd bought a new position in Cummins in the 2nd quarter worth about $26,000. Elevation Wealth Partners LLC boosted its position in shares of Cummins by 91.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 22 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Key Financial Inc grew its holdings in shares of Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Cornerstone Financial Management LLC grew its holdings in shares of Cummins by 65.8% during the second quarter. Cornerstone Financial Management LLC now owns 63 shares of the company’s stock worth $45,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the transaction, the vice president directly owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup dropped their target price on shares of Cummins from $790.00 to $630.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. CICC Research assumed coverage on shares of Cummins in a research note on Sunday, August 23rd. They issued an “outperform” rating and a $781.00 price target for the company. Finally, Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $708.18.

Check Out Our Latest Stock Report on CMI

Cummins Price Performance

Shares of Cummins stock traded down $2.01 during trading on Friday, hitting $530.72. 1,255,487 shares of the stock traded hands, compared to its average volume of 1,127,504. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The stock has a market cap of $73.06 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.41 and a beta of 1.24. The firm’s fifty day moving average is $555.86 and its 200-day moving average is $619.86. Cummins Inc. has a 52 week low of $405.82 and a 52 week high of $737.76.

Cummins (NYSE:CMI – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.43 earnings per share. Research analysts expect that Cummins Inc. will post 29.98 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, November 20th. Cummins’s dividend payout ratio (DPR) is presently 44.97%.

Cummins Company Profile

(Free Report)

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.

Further Reading

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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