Cummins Inc. (NYSE:CMI) Shares Bought by Field & Main Bank

Field & Main Bank grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,460 shares of the company’s stock after buying an additional 115 shares during the period. Field & Main Bank’s holdings in Cummins were worth $796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kerusso Capital Management LLC boosted its stake in Cummins by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 5,521 shares of the company’s stock worth $1,788,000 after purchasing an additional 332 shares during the last quarter. Assetmark Inc. boosted its stake in Cummins by 3.1% during the 3rd quarter. Assetmark Inc. now owns 17,937 shares of the company’s stock worth $5,808,000 after purchasing an additional 533 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in Cummins during the 3rd quarter worth $185,000. Windward Capital Management Co. CA boosted its stake in Cummins by 1.2% during the 3rd quarter. Windward Capital Management Co. CA now owns 56,132 shares of the company’s stock worth $18,175,000 after purchasing an additional 692 shares during the last quarter. Finally, Applied Finance Capital Management LLC boosted its stake in Cummins by 0.8% during the 3rd quarter. Applied Finance Capital Management LLC now owns 136,759 shares of the company’s stock worth $44,281,000 after purchasing an additional 1,141 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMI shares. Robert W. Baird boosted their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial boosted their price target 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. The Goldman Sachs Group boosted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Evercore ISI boosted their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $324.83.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.5 %

Shares of NYSE:CMI opened at $356.46 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market capitalization of $48.90 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The firm’s 50-day moving average is $322.99 and its two-hundred day moving average is $299.12. Cummins Inc. has a 1 year low of $214.57 and a 1 year high of $370.21.

Cummins (NYSE:CMI) last issued its quarterly 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 company 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 for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.73 earnings per share. Analysts predict that Cummins Inc. will post 20.17 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 2.04%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

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.