Cummins Inc. $CMI Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Cummins Inc. (NYSE:CMI) by 56.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 35,910 shares of the company’s stock after selling 46,123 shares during the quarter. Janus Henderson Group PLC’s holdings in Cummins were worth $19,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Activest Wealth Management increased its position in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Cummins by 1,500.0% during the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Cummins during the fourth quarter worth $27,000. Key Financial Inc increased its holdings in Cummins by 62.5% in the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 20 shares during the last quarter. Finally, Birchwood Financial Partners Inc. purchased a new stake in Cummins during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CMI. Truist Financial upped their price objective on Cummins from $815.00 to $901.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Barclays upped their price target on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Finally, Citigroup increased their target price on shares of Cummins from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $740.07.

Insider Buying and Selling at Cummins

In other news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the transaction, the vice president directly owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Marvin Boakye sold 3,481 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the sale, the vice president owned 8,508 shares of the company’s stock, valued at approximately $5,784,589.20. This represents a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

Cummins Stock Up 2.5%

Shares of NYSE CMI opened at $649.89 on Tuesday. The business has a 50-day moving average price of $670.29 and a 200 day moving average price of $623.53. The stock has a market cap of $89.68 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 52-week low of $356.92 and a 52-week high of $737.76.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 29.39 earnings per share for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins’s payout ratio is 41.52%.

Cummins 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.