Natixis Advisors L.P. Sells 549 Shares of Cummins Inc. (NYSE:CMI)

Natixis Advisors L.P. trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,897 shares of the company’s stock after selling 549 shares during the quarter. Natixis Advisors L.P. owned about 0.06% of Cummins worth $20,577,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bison Wealth LLC increased its stake in Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after acquiring an additional 42 shares during the period. KB Financial Partners LLC increased its stake in shares of Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after purchasing an additional 45 shares during the last quarter. Edmp Inc. boosted its stake in Cummins by 0.8% in the fourth quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after buying an additional 46 shares in the last quarter. Ledge Wealth Management Inc. grew its stake in shares of Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after buying an additional 48 shares during the last quarter. Finally, Peloton Wealth Strategists increased its holdings in Cummins by 0.4% in the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock worth $3,227,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. Finally, Citigroup boosted their price target on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $282.55.

Cummins Stock Performance

NYSE CMI opened at $280.74 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The company has a fifty day moving average price of $285.39 and a 200-day moving average price of $252.92. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24. The firm has a market cap of $38.40 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.52 earnings per share. As a group, equities research analysts predict that Cummins Inc. will post 18.45 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

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.