Cummins Inc. (NYSE:CMI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Cummins Inc. (NYSE:CMI) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,022 shares of the company’s stock after selling 3,124 shares during the period. Thrivent Financial for Lutherans’ holdings in Cummins were worth $13,930,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins in the second quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new stake in Cummins during the 2nd quarter valued at $28,000. Lynx Investment Advisory bought a new stake in Cummins during the 2nd quarter valued at $29,000. LRI Investments LLC acquired a new position in Cummins during the 1st quarter worth $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins during the third quarter valued at $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 23.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. This represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,576 shares of company stock valued at $9,033,945 over the last three months. 0.56% of the stock is currently owned by insiders.

Cummins Stock Down 0.3 %

CMI stock opened at $360.95 on Thursday. The company has a 50 day moving average of $332.94 and a two-hundred day moving average of $303.34. 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 12-month low of $220.02 and a 12-month high of $370.21. The company has a market cap of $49.52 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.77 and a beta of 0.97.

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

Cummins Announces Dividend

The firm 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. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is presently 48.08%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CMI shares. Robert W. Baird raised their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Truist Financial boosted their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $337.67.

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.