Cummins Inc. (NYSE:CMI) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 31.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,089 shares of the company’s stock after purchasing an additional 1,711 shares during the period. IHT Wealth Management LLC’s holdings in Cummins were worth $2,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cultivar Capital Inc. bought a new position in shares of Cummins during the second quarter worth about $28,000. Prospera Private Wealth LLC bought a new position in shares of Cummins during the 3rd quarter valued at about $32,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins during the 2nd quarter valued at about $28,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins during the 3rd quarter valued at about $34,000. Finally, Bangor Savings Bank boosted its position in shares of Cummins by 39.2% during the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company’s stock valued at $39,000 after purchasing an additional 40 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMI. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Truist Financial raised their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Citigroup upped their price objective on shares of Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $337.67.

Cummins Trading Up 0.7 %

NYSE:CMI opened at $378.31 on Thursday. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $379.66. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.83 and a beta of 0.99. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $346.31 and its 200-day moving average is $309.20.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm posted $4.73 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by company insiders.

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.