170 Shares in Cummins Inc. (NYSE:CMI) Bought by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC purchased a new stake in Cummins Inc. (NYSE:CMI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 170 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins during the second quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in shares of Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC acquired a new stake in shares of Cummins in the 1st quarter valued at approximately $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins in the third quarter valued at $34,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 3.2 %

CMI stock opened at $366.34 on Thursday. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.21. The company has a market capitalization of $50.25 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. The company’s 50-day simple moving average is $324.91 and its 200 day simple moving average is $300.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 6.13% and a return on equity of 26.86%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.73 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 20.44 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.99%. Cummins’s payout ratio is 48.08%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated 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 owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 2,001 shares of the company’s 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 sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,413 shares of company stock valued at $8,249,879. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMI. Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Barclays lifted 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. The Goldman Sachs Group upped their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $334.33.

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.