Marco Investment Management LLC Has $292,000 Stake in Cummins Inc. (NYSE:CMI)

Marco Investment Management LLC increased its stake in Cummins Inc. (NYSE:CMI) by 10.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,055 shares of the company’s stock after purchasing an additional 100 shares during the period. Marco Investment Management LLC’s holdings in Cummins were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CMI. First United Bank & Trust acquired a new position in shares of Cummins during the fourth quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Cummins during the 4th quarter worth approximately $26,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins during the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. acquired a new stake in shares of Cummins in the second quarter valued at approximately $28,000. Finally, Lynx Investment Advisory bought a new stake in shares of Cummins in the second quarter worth $29,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMI. Robert W. Baird raised their target price on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays lifted their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Evercore ISI increased their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Raymond James assumed coverage on Cummins in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Truist Financial upped their price objective on Cummins from $315.00 to $349.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $299.55.

Cummins Trading Down 0.5 %

CMI stock opened at $295.43 on Wednesday. Cummins Inc. has a one year low of $212.80 and a one year high of $322.83. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. The company has a fifty day moving average price of $293.22 and a two-hundred day moving average price of $286.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter last year, the company earned $5.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 19.66 EPS for the current year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This is an increase from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a dividend yield of 2.46%. Cummins’s dividend payout ratio is 53.29%.

Insider Buying and Selling

In other news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

About Cummins

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.