Inceptionr LLC Purchases Shares of 2,811 Cummins Inc. (NYSE:CMI)

Inceptionr LLC purchased a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,811 shares of the company's stock, valued at approximately $673,000.

Several other large investors also recently made changes to their positions in CMI. OFI Invest Asset Management acquired a new stake in shares of Cummins in the third quarter valued at approximately $25,000. First United Bank & Trust bought a new position in shares of Cummins in the fourth quarter valued at approximately $25,000. Silver Oak Securities Incorporated bought a new position in shares of Cummins in the third quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Cummins in the fourth quarter valued at approximately $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Cummins in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 11,000 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares of the company's stock, valued at approximately $4,685,847.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now owns 20,873 shares in the company, valued at approximately $5,987,628.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the sale, the vice president now owns 17,874 shares of the company's stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,169 shares of company stock valued at $14,689,855. Company insiders own 0.56% of the company's stock.

Cummins Trading Up 1.3 %

Cummins stock traded up $3.87 during midday trading on Tuesday, reaching $295.32. The stock had a trading volume of 832,893 shares, compared to its average volume of 2,457,533. The firm's fifty day simple moving average is $287.98 and its two-hundred day simple moving average is $255.96. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The firm has a market cap of $40.39 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 1.87 and a beta of 1.04.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.28%. Cummins's dividend payout ratio is 49.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMI. Truist Financial increased their price objective on shares of Cummins from $303.00 to $319.00 and gave the company a "hold" rating in a report on Friday, May 3rd. Robert W. Baird decreased their price objective on shares of Cummins from $298.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 3rd. UBS Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and increased their price objective for the company from $254.00 to $321.00 in a report on Friday, March 15th. TheStreet cut shares of Cummins from an "a-" rating to a "c+" rating in a report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Cummins from a "hold" rating to a "buy" rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $284.36.

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.

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