Cummins Inc. $CMI Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its stake in shares of Cummins Inc. (NYSE:CMI) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 39,043 shares of the company’s stock after selling 2,086 shares during the period. Vontobel Holding Ltd.’s holdings in Cummins were worth $16,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after buying an additional 83 shares during the last quarter. CW Advisors LLC grew its position in shares of Cummins by 17.5% in the first quarter. CW Advisors LLC now owns 1,668 shares of the company’s stock valued at $526,000 after purchasing an additional 249 shares during the period. Jump Financial LLC increased its stake in Cummins by 101.9% in the first quarter. Jump Financial LLC now owns 5,843 shares of the company’s stock valued at $1,831,000 after purchasing an additional 2,949 shares during the last quarter. Freedom Investment Management Inc. lifted its position in Cummins by 3.9% during the first quarter. Freedom Investment Management Inc. now owns 1,539 shares of the company’s stock worth $482,000 after buying an additional 58 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Cummins by 31.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,159 shares of the company’s stock worth $10,080,000 after buying an additional 7,741 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark Andrew Smith sold 13,110 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. The trade was a 29.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total value of $709,514.00. Following the transaction, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,330 shares of company stock valued at $12,649,764. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CMI shares. Truist Financial increased their target price on shares of Cummins from $628.00 to $653.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Raymond James Financial upgraded Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 target price on the stock in a report on Monday. Wells Fargo & Company started coverage on shares of Cummins in a report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 price target for the company. Melius raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, September 3rd. Finally, Barclays restated a “positive” rating on shares of Cummins in a research note on Friday, December 19th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $492.75.

Cummins Stock Performance

NYSE CMI opened at $520.38 on Thursday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $526.50. The stock has a fifty day simple moving average of $473.37 and a 200 day simple moving average of $410.96. The company has a market capitalization of $71.83 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.04 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.76. The company had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. Cummins’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.86 earnings per share. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.5%. Cummins’s dividend payout ratio is currently 41.52%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.