Cummins Inc. (NYSE:CMI) Shares Bought by Pensionfund Sabic

Pensionfund Sabic lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 27.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,700 shares of the company’s stock after buying an additional 1,000 shares during the period. Pensionfund Sabic’s holdings in Cummins were worth $1,638,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Chicago Capital LLC boosted its stake in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after acquiring an additional 30 shares during the last quarter. Equitable Trust Co. raised its position in shares of Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in Cummins by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after acquiring an additional 38 shares during the last quarter. Finally, Shepherd Financial Partners LLC grew its stake in Cummins by 2.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 1,819 shares of the company’s stock valued at $589,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CMI shares. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. The Goldman Sachs Group upped their target price 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. Truist Financial lifted their price target on shares of Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Finally, Citigroup increased their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $356.92.

Cummins Stock Up 1.6 %

Shares of NYSE:CMI traded up $5.61 on Monday, hitting $359.96. 47,478 shares of the company’s stock were exchanged, compared to its average volume of 390,438. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s 50-day moving average is $359.17 and its 200 day moving average is $322.30. The company has a market capitalization of $49.38 billion, a PE ratio of 23.78, a P/E/G ratio of 1.80 and a beta of 1.01. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. 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 prior year, the company posted $4.73 earnings per share. Cummins’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

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

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

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.