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

Foundations Investment Advisors LLC boosted its stake in Cummins Inc. (NYSE:CMIFree Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,731 shares of the company’s stock after buying an additional 195 shares during the period. Foundations Investment Advisors LLC’s holdings in Cummins were worth $421,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First United Bank & Trust purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $25,000. Silver Oak Securities Incorporated purchased a new stake in Cummins in the third quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Cummins during the fourth quarter worth $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Cummins during the third quarter worth $39,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Cummins in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the transaction, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the acquisition, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders sold a total of 43,430 shares of company stock worth $11,608,848 in the last 90 days. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial reissued a “hold” rating and issued a $319.00 price objective on shares of Cummins in a research report on Wednesday. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Robert W. Baird dropped their price objective on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $284.36.

Get Our Latest Stock Report on Cummins

Cummins Trading Down 0.8 %

CMI opened at $285.56 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $304.24. The business’s 50 day moving average is $289.61 and its two-hundred day moving average is $257.75. The firm has a market cap of $39.06 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be given a $1.68 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $6.72 annualized dividend and a yield of 2.35%. Cummins’s dividend payout ratio (DPR) is 49.19%.

Cummins Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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