Cerity Partners LLC Has $39.18 Million Stake in Cummins Inc. (NYSE:CMI)

Cerity Partners LLC boosted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,990 shares of the company's stock after buying an additional 8,327 shares during the period. Cerity Partners LLC owned approximately 0.09% of Cummins worth $39,177,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $204,000. AlphaQuest LLC boosted its stake in shares of Cummins by 41,133.3% in the 4th quarter. AlphaQuest LLC now owns 1,237 shares of the company's stock valued at $431,000 after purchasing an additional 1,234 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of Cummins by 41.1% in the 4th quarter. Independent Advisor Alliance now owns 4,883 shares of the company's stock valued at $1,702,000 after purchasing an additional 1,423 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Cummins by 38.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,149 shares of the company's stock valued at $1,446,000 after purchasing an additional 1,153 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Cummins from $315.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and dropped their price objective for the company from $400.00 to $240.00 in a report on Monday, April 7th. The Goldman Sachs Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and raised their price objective for the company from $410.00 to $431.00 in a report on Tuesday, May 27th. Finally, Truist Financial dropped their price objective on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $361.42.

Cummins Stock Down 0.4%

Cummins stock opened at $338.75 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The firm has a 50 day moving average price of $323.43 and a two-hundred day moving average price of $331.08. The firm has a market cap of $46.67 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.05 and a beta of 1.03.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the business earned $5.08 EPS. The company's revenue was down 2.7% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.15%. Cummins's payout ratio is 36.22%.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone acquired 1,000 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the purchase, the director directly owned 2,441 shares of the company's stock, valued at $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by corporate 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.

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