Temasek Holdings Private Ltd Has $11.16 Million Holdings in Cummins Inc. (NYSE:CMI)

Temasek Holdings Private Ltd raised its position in shares of Cummins Inc. (NYSE:CMI) by 212.8% in the fourth quarter, Holdings Channel reports. The firm owned 32,010 shares of the company’s stock after buying an additional 21,775 shares during the period. Temasek Holdings Private Ltd’s holdings in Cummins were worth $11,159,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CMI. SeaCrest Wealth Management LLC lifted its stake in Cummins by 6.1% in the fourth quarter. SeaCrest Wealth Management LLC now owns 974 shares of the company’s stock valued at $340,000 after acquiring an additional 56 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Cummins by 29.7% during the 4th quarter. Park Avenue Securities LLC now owns 5,821 shares of the company’s stock valued at $2,029,000 after purchasing an additional 1,333 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Cummins by 5.5% in the 4th quarter. Ritholtz Wealth Management now owns 6,282 shares of the company’s stock valued at $2,190,000 after purchasing an additional 330 shares during the last quarter. Avanza Fonder AB bought a new stake in Cummins in the fourth quarter worth $84,000. Finally, Relyea Zuckerberg Hanson LLC bought a new stake in Cummins in the fourth quarter worth $219,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CMI shares. Citigroup raised their target price on Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, May 12th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. UBS Group lowered Cummins from a “buy” rating to a “sell” rating and reduced their target price for the stock from $400.00 to $240.00 in a report on Monday, April 7th. JPMorgan Chase & Co. upped their target price on Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Truist Financial dropped their price target on shares of Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus price target of $354.83.

Cummins Stock Up 0.8%

CMI opened at $334.78 on Friday. The business has a 50 day moving average of $304.05 and a 200-day moving average of $341.44. The stock has a market capitalization of $46.12 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.19 and a beta of 1.02. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.08 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

Insider Buying and Selling

In other news, Director John H. Stone purchased 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares in the company, valued at approximately $810,607.28. The trade was a 69.40% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by company insiders.

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.