Cummins Inc. $CMI Shares Bought by Mather Group LLC.

Mather Group LLC. grew its position in Cummins Inc. (NYSE:CMI) by 702.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,631 shares of the company’s stock after buying an additional 23,314 shares during the quarter. Mather Group LLC.’s holdings in Cummins were worth $13,757,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CMI. Hudock Inc. lifted its position in shares of Cummins by 182.9% in the 3rd quarter. Hudock Inc. now owns 2,470 shares of the company’s stock valued at $1,276,000 after acquiring an additional 1,597 shares in the last quarter. First Pacific Financial boosted its stake in Cummins by 2.7% in the 3rd quarter. First Pacific Financial now owns 2,469 shares of the company’s stock worth $1,246,000 after purchasing an additional 66 shares during the period. Strategy Asset Managers LLC purchased a new position in Cummins during the 3rd quarter worth approximately $691,000. Tempus Wealth Planning LLC grew its position in Cummins by 28.2% during the 3rd quarter. Tempus Wealth Planning LLC now owns 582 shares of the company’s stock worth $301,000 after purchasing an additional 128 shares in the last quarter. Finally, Triumph Capital Management grew its position in Cummins by 188.5% during the 3rd quarter. Triumph Capital Management now owns 150 shares of the company’s stock worth $77,000 after purchasing an additional 98 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CMI shares. Wells Fargo & Company cut their target price on shares of Cummins from $874.00 to $760.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Bank of America decreased their target price on Cummins from $731.00 to $600.00 in a research report on Thursday, September 24th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Sanford C. Bernstein reissued a “market perform” rating and set a $700.00 price target on shares of Cummins in a research report on Wednesday, August 5th. Finally, DA Davidson upped their price target on Cummins from $605.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $708.18.

Cummins Stock Down 0.7%

CMI stock opened at $525.39 on Thursday. Cummins Inc. has a 12-month low of $405.82 and a 12-month high of $737.76. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.39 and a beta of 1.24. The company has a 50 day moving average of $560.36 and a two-hundred day moving average of $620.42.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same period last year, the business earned $6.43 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 30.10 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 dividend on an annualized basis and a yield of 1.7%. Cummins’s dividend payout ratio (DPR) is presently 44.97%.

Insider Transactions at Cummins

In related news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.