Sienna Gestion Has $1.49 Million Stock Position in Cummins Inc. $CMI

Sienna Gestion lowered its position in shares of Cummins Inc. (NYSE:CMI) by 32.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,923 shares of the company’s stock after selling 1,393 shares during the quarter. Sienna Gestion’s holdings in Cummins were worth $1,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Cummins by 2.8% during the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after buying an additional 91,956 shares in the last quarter. Accredited Wealth Management LLC increased its position in shares of Cummins by 3,100.0% in the third quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock worth $1,352,000 after purchasing an additional 3,100 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Cummins by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock worth $20,610,000 after purchasing an additional 2,574 shares during the period. Payden & Rygel bought a new position in shares of Cummins in the third quarter worth $9,757,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Cummins in the third quarter worth $11,129,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the transaction, the insider owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% 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, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This represents a 29.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CMI shares. Truist Financial set a $815.00 price target on Cummins in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price target on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Argus raised their price target on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $726.14.

Cummins Stock Performance

Cummins stock opened at $679.66 on Tuesday. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $651.02 and its two-hundred day moving average price is $585.26. The stock has a market cap of $93.79 billion, a PE ratio of 35.27, a P/E/G ratio of 1.61 and a beta of 1.24.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the business posted $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s 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.