Rowlandmiller & PARTNERS.ADV Cuts Stock Holdings in Cummins Inc. (NYSE:CMI)

Rowlandmiller & PARTNERS.ADV reduced its position in shares of Cummins Inc. (NYSE:CMI) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,088 shares of the company’s stock after selling 99 shares during the period. Cummins accounts for about 1.6% of Rowlandmiller & PARTNERS.ADV’s portfolio, making the stock its 17th largest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Cummins were worth $7,800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CMI. Dakota Wealth Management boosted its holdings in shares of Cummins by 60.4% during the 3rd quarter. Dakota Wealth Management now owns 36,175 shares of the company’s stock worth $11,713,000 after purchasing an additional 13,625 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cummins by 164.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 13,974 shares of the company’s stock worth $4,525,000 after purchasing an additional 8,685 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Cummins by 5.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,723 shares of the company’s stock worth $9,624,000 after purchasing an additional 1,624 shares during the last quarter. X Square Capital LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $518,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the sale, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the sale, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Cummins Stock Up 0.7 %

Cummins stock opened at $332.41 on Friday. The firm has a market capitalization of $45.47 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.92 and a beta of 0.98. The stock’s fifty day simple moving average is $315.05 and its 200-day simple moving average is $295.57. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $340.82.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.18 earnings per share. As a group, equities analysts expect that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.19%. Cummins’s payout ratio is currently 53.29%.

Wall Street Analyst Weigh In

CMI has been the topic of several recent research reports. Truist Financial boosted their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Raymond James initiated coverage on Cummins in a report on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Finally, Robert W. Baird upped their price objective on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cummins currently has an average rating of “Hold” and a consensus price target of $311.55.

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.