Cummins Inc. (NYSE:CMI) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 4.2% in the third quarter, Holdings Channel.com reports. The firm owned 34,515 shares of the company’s stock after selling 1,517 shares during the period. Sanctuary Advisors LLC’s holdings in Cummins were worth $11,176,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMI. Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Cummins during the third quarter valued at about $209,000. Stock Yards Bank & Trust Co. lifted its stake in shares of Cummins by 1.8% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company’s stock worth $1,648,000 after acquiring an additional 88 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Cummins by 3.9% in the third quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company’s stock worth $1,727,000 after acquiring an additional 202 shares in the last quarter. Advisory Resource Group grew its stake in Cummins by 1.0% during the 3rd quarter. Advisory Resource Group now owns 15,328 shares of the company’s stock valued at $4,963,000 after purchasing an additional 155 shares in the last quarter. Finally, Soltis Investment Advisors LLC purchased a new stake in Cummins during the 3rd quarter worth approximately $201,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 0.8 %

NYSE:CMI opened at $367.71 on Friday. The firm has a market capitalization of $50.44 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.80 and a beta of 0.99. The business has a 50 day simple moving average of $353.19 and a 200 day simple moving average of $313.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the company posted $4.73 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 48.08%.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial increased their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Citigroup upped their target price on shares of Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus price target of $352.85.

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.