Duality Advisers LP Buys Shares of 6,353 Cummins Inc. (NYSE:CMI)

Duality Advisers LP purchased a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,353 shares of the company’s stock, valued at approximately $1,522,000.

Several other large investors also recently modified their holdings of CMI. Bison Wealth LLC increased its position in shares of Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after purchasing an additional 42 shares during the last quarter. KB Financial Partners LLC grew its position in shares of Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after acquiring an additional 45 shares during the period. Edmp Inc. increased its stake in shares of Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after purchasing an additional 46 shares in the last quarter. Ledge Wealth Management Inc. lifted its position in Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after purchasing an additional 48 shares in the last quarter. Finally, Peloton Wealth Strategists grew its holdings in Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after purchasing an additional 50 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.0 %

Shares of CMI stock opened at $290.36 on Tuesday. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 56.05, a PEG ratio of 1.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $280.93 and a 200-day simple moving average of $249.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the previous year, the firm posted $4.52 EPS. Cummins’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Cummins Inc. will post 18.31 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. Cummins’s payout ratio is 129.73%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial started coverage on Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Evercore ISI increased their price target on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley started coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $279.70.

Insider Buying and Selling

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

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.