Thompson Siegel & Walmsley LLC Purchases 8,919 Shares of Cummins Inc. (NYSE:CMI)

Thompson Siegel & Walmsley LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 518.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,639 shares of the company’s stock after buying an additional 8,919 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Cummins were worth $3,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the 2nd quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in Cummins during the second quarter valued at approximately $28,000. Lynx Investment Advisory acquired a new stake in Cummins during the 2nd quarter worth $29,000. LRI Investments LLC acquired a new stake in shares of Cummins during the first quarter worth about $31,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $32,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 2.3 %

Shares of NYSE CMI opened at $369.13 on Friday. The firm has a market cap of $50.64 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The business has a fifty day simple moving average of $334.37 and a two-hundred day simple moving average of $303.79. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a twelve month low of $220.02 and a twelve month high of $370.64.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.73 earnings per share. Analysts expect that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.97%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CMI shares. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Truist Financial lifted their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Citigroup increased their price objective on shares of Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $337.67.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,326 shares of company stock valued at $1,559,125 over the last quarter. 0.56% of the stock is owned by company insiders.

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.