Cummins Inc. (NYSE:CMI) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 1,197.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,904 shares of the company’s stock after buying an additional 17,447 shares during the period. Foundations Investment Advisors LLC’s holdings in Cummins were worth $6,121,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CMI. CWM LLC increased its stake in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC increased its stake in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after acquiring an additional 59,027 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Cummins in the 2nd quarter worth $16,329,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cummins by 13.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock worth $55,073,000 after acquiring an additional 21,850 shares during the last quarter. Finally, Duality Advisers LP increased its stake in shares of Cummins by 190.3% in the 1st quarter. Duality Advisers LP now owns 18,440 shares of the company’s stock worth $5,433,000 after acquiring an additional 12,087 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $330.76 on Wednesday. The business has a 50-day moving average of $314.29 and a 200 day moving average of $295.33. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $340.82. The stock has a market capitalization of $45.24 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same period last year, the business posted $5.18 EPS. Cummins’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is presently 53.29%.

Insider Activity

In other news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CMI shares. Robert W. Baird raised their target price on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Evercore ISI increased their price target on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Citigroup increased their price target on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Raymond James started coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Barclays increased their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cummins presently has an average rating of “Hold” and an average target price of $311.55.

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.