Umpqua Bank Sells 41 Shares of Cummins Inc. (NYSE:CMI)

Umpqua Bank reduced its position in Cummins Inc. (NYSE:CMI) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,604 shares of the company’s stock after selling 41 shares during the quarter. Umpqua Bank’s holdings in Cummins were worth $1,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins in the second quarter valued at about $28,000. Cultivar Capital Inc. bought a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory acquired a new position in Cummins during the second quarter worth $29,000. LRI Investments LLC acquired a new stake in shares of Cummins during the 1st quarter worth about $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the third quarter worth $34,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on CMI shares. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday. Barclays boosted their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Citigroup upped their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Truist Financial lifted their price target on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cummins has an average rating of “Hold” and an average price target of $319.50.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Cummins Trading Up 2.0 %

Shares of Cummins stock traded up $7.14 during trading hours on Wednesday, hitting $361.60. The company’s stock had a trading volume of 104,543 shares, compared to its average volume of 1,503,456. Cummins Inc. has a 12 month low of $214.57 and a 12 month high of $370.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $49.56 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The stock has a 50 day moving average of $320.21 and a 200 day moving average of $297.86.

Cummins (NYSE:CMI) last announced its quarterly 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. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm posted $4.73 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts predict that Cummins Inc. will post 19.96 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.01%. Cummins’s dividend payout ratio is currently 52.49%.

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.