Union Bancaire Privee UBP SA Acquires 6,154 Shares of Cummins Inc. $CMI

Union Bancaire Privee UBP SA raised its holdings in Cummins Inc. (NYSE:CMI) by 34.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,901 shares of the company’s stock after buying an additional 6,154 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cummins were worth $7,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cummins by 1.9% during the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock valued at $5,417,331,000 after purchasing an additional 321,823 shares in the last quarter. Northern Trust Corp lifted its position in shares of Cummins by 1.2% during the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after purchasing an additional 22,202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cummins by 0.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,634,580 shares of the company’s stock valued at $512,343,000 after purchasing an additional 8,487 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Cummins by 152.3% during the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock valued at $424,414,000 after purchasing an additional 817,384 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Cummins by 11.6% during the first quarter. Invesco Ltd. now owns 1,215,956 shares of the company’s stock valued at $381,129,000 after purchasing an additional 126,362 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

CMI opened at $419.61 on Tuesday. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.02 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $395.56 and a 200-day moving average price of $343.21. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $432.50.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.21 by $1.22. The firm had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $5.26 earnings per share. Equities analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were paid a $2.00 dividend. The ex-dividend date was Friday, August 22nd. This is a positive change from Cummins’s previous quarterly dividend of $1.82. This represents a $8.00 annualized dividend and a dividend yield of 1.9%. Cummins’s dividend payout ratio is 37.61%.

Insider Transactions at Cummins

In other news, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the completion of the transaction, the vice president owned 955 shares in the company, valued at $384,158.30. This trade represents a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen H. Quintos sold 1,307 shares of Cummins stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total transaction of $529,766.31. Following the completion of the transaction, the director owned 5,227 shares of the company’s stock, valued at $2,118,659.91. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,119 shares of company stock valued at $14,159,885. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Cummins from $315.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Truist Financial raised their price target on shares of Cummins from $342.00 to $380.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Citigroup raised their price target on shares of Cummins from $425.00 to $485.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, September 3rd. Finally, Wolfe Research upgraded shares of Cummins from a “hold” rating to an “outperform” rating in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.57.

Cummins Profile

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.