Traphagen Investment Advisors LLC Invests $200,000 in Cummins Inc. (NYSE:CMI)

Traphagen Investment Advisors LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 619 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors also recently bought and sold shares of the company. Kessler Investment Group LLC lifted its stake in shares of Cummins by 2.6% in the 3rd quarter. Kessler Investment Group LLC now owns 1,902 shares of the company’s stock worth $616,000 after purchasing an additional 48 shares during the period. Foundations Investment Advisors LLC increased its holdings in Cummins by 1,197.5% during the third quarter. Foundations Investment Advisors LLC now owns 18,904 shares of the company’s stock valued at $6,121,000 after buying an additional 17,447 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Cummins by 4.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 932 shares of the company’s stock worth $302,000 after acquiring an additional 43 shares during the period. Retirement Guys Formula LLC purchased a new position in shares of Cummins during the 3rd quarter worth $1,537,000. Finally, Berry Wealth Group LP bought a new stake in shares of Cummins during the 3rd quarter valued at $202,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CMI shares. Citigroup lifted their target price on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial lifted their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased 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. Robert W. Baird lifted their price target on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Evercore ISI increased their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $311.55.

Insider Activity at Cummins

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

Cummins Price Performance

NYSE CMI traded down $5.36 during trading on Tuesday, hitting $328.27. 75,922 shares of the stock traded hands, compared to its average volume of 1,552,369. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $340.82. The firm has a 50-day simple moving average of $313.50 and a 200-day simple moving average of $295.11. The company has a market capitalization of $44.90 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.18 EPS. As a group, analysts predict that Cummins Inc. will post 19.77 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced 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. This represents a $7.28 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is 53.29%.

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.