Allen Capital Group LLC Buys 57 Shares of Cummins Inc. (NYSE:CMI)

Allen Capital Group LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,157 shares of the company’s stock after buying an additional 57 shares during the period. Allen Capital Group LLC’s holdings in Cummins were worth $375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cultivar Capital Inc. bought a new stake in shares of Cummins during the second quarter valued at about $28,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter worth approximately $32,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Cummins in the second quarter valued at approximately $28,000. Lynx Investment Advisory bought a new stake in Cummins during the second quarter valued at approximately $29,000. Finally, LRI Investments LLC purchased a new position in Cummins in the 1st quarter worth approximately $31,000. 83.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CMI shares. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup lifted their price target on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Finally, Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $337.67.

Cummins Trading Up 1.5 %

Shares of CMI opened at $372.66 on Friday. The firm has a fifty day simple moving average of $335.78 and a two-hundred day simple moving average of $304.41. Cummins Inc. has a twelve month low of $222.04 and a twelve month high of $373.35. The stock has a market capitalization of $51.12 billion, a P/E ratio of 24.61, a PEG ratio of 1.77 and a beta of 0.97. 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 (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $4.73 EPS. On average, research analysts anticipate that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. Cummins’s payout ratio is 48.08%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by corporate insiders.

Cummins Company 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.