Deseret Mutual Benefit Administrators Has $175,000 Position in Cummins Inc. (NYSE:CMI)

by · The Markets Daily

Deseret Mutual Benefit Administrators lessened its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 37.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 542 shares of the company’s stock after selling 327 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Cummins were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after buying an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cummins by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after acquiring an additional 604,735 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Cummins during the 2nd quarter valued at approximately $68,018,000. Finally, SG Americas Securities LLC increased its position in Cummins by 1,012.0% during the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after purchasing an additional 179,346 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $356.07 on Thursday. Cummins Inc. has a fifty-two week low of $214.57 and a fifty-two week high of $370.21. The company’s 50-day moving average is $321.21 and its 200 day moving average is $298.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The company has a market capitalization of $48.80 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97.

Cummins (NYSE:CMI – Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.73 EPS. On average, equities research analysts forecast that Cummins Inc. will post 19.96 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.04%. Cummins’s payout ratio is presently 52.49%.

Insider Activity at Cummins

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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated 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 transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CMI shares. JPMorgan Chase & Co. increased their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Evercore ISI increased their target price on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Truist Financial boosted their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $324.83.

Check Out Our Latest Research Report on CMI

About Cummins

(Free Report)

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.

Read More