Aurora Investment Counsel Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

Aurora Investment Counsel decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 7.3% during the third quarter, HoldingsChannel reports. The firm owned 5,934 shares of the company’s stock after selling 469 shares during the quarter. Aurora Investment Counsel’s holdings in Cummins were worth $1,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CMI. Clearbridge Investments LLC bought a new position in shares of Cummins in the 1st quarter worth approximately $236,000. Lake Street Advisors Group LLC lifted its position in Cummins by 17.4% during the first quarter. Lake Street Advisors Group LLC now owns 1,306 shares of the company’s stock valued at $385,000 after buying an additional 194 shares during the period. Shell Asset Management Co. bought a new stake in shares of Cummins during the 1st quarter valued at $406,000. CreativeOne Wealth LLC purchased a new position in Cummins during the 1st quarter valued at about $318,000. Finally, Advisors Asset Management Inc. grew its holdings in Cummins by 60.4% in the first quarter. Advisors Asset Management Inc. now owns 16,120 shares of the company’s stock worth $4,750,000 after purchasing an additional 6,071 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of several recent research reports. Citigroup lifted their target price on shares of Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial raised their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays increased their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $337.67.

Insiders Place Their Bets

In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 approximately $23,870,722.08. The trade was a 23.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,576 shares of company stock worth $9,033,945 over the last three months. 0.56% of the stock is currently owned by company insiders.

Cummins Trading Down 0.3 %

NYSE:CMI opened at $360.95 on Thursday. The firm has a market capitalization of $49.52 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The business has a fifty day moving average price of $332.94 and a 200-day moving average price of $303.34. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.73 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. Cummins’s payout ratio is currently 48.08%.

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.