Cummins Inc. (NYSE:CMI) Shares Sold by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834 shares of the company’s stock after selling 50 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Cummins were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CMI. Pathway Financial Advisers LLC grew its stake in Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Cummins during the second quarter worth about $68,018,000. SG Americas Securities LLC boosted its position in Cummins by 1,012.0% in the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock valued at $54,574,000 after buying an additional 179,346 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Cummins in the 2nd quarter worth approximately $46,607,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI stock opened at $372.62 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12-month low of $222.04 and a 12-month high of $373.35. The business’s 50 day moving average is $335.78 and its two-hundred day moving average is $304.64. The company has a market capitalization of $51.12 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.79 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating 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 return on equity of 26.86% and a net margin of 6.13%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $4.73 EPS. Analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal 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 paid 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 1.95%. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMI. JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Barclays boosted their target price on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Finally, Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $337.67.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Insiders own 0.56% of the company’s stock.

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.