Cummins Inc. $CMI Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 24.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,414 shares of the company’s stock after selling 107,210 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.24% of Cummins worth $107,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMI. Brighton Jones LLC boosted its holdings in shares of Cummins by 4.1% in the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. NBC Securities Inc. lifted its position in Cummins by 113,900.0% in the first quarter. NBC Securities Inc. now owns 1,140 shares of the company’s stock worth $357,000 after purchasing an additional 1,139 shares during the period. Apella Capital LLC bought a new position in Cummins during the 1st quarter valued at $375,000. Sendero Wealth Management LLC acquired a new position in shares of Cummins during the 1st quarter valued at $234,000. Finally, Portside Wealth Group LLC bought a new stake in shares of Cummins in the 1st quarter worth $395,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, VP Amy Rochelle Davis sold 5,002 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the transaction, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. This represents a 19.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Andrew Smith sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $405.00, for a total transaction of $2,632,500.00. Following the completion of the sale, the chief financial officer directly owned 31,582 shares of the company’s stock, valued at $12,790,710. This trade represents a 17.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,119 shares of company stock valued at $14,159,885 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $432.81 on Friday. The firm’s 50 day simple moving average is $399.47 and its 200-day simple moving average is $345.06. The company has a market cap of $59.64 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.05 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $433.00.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the firm earned $5.26 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts predict 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 given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.8%. This is a boost from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend was Friday, August 22nd. Cummins’s payout ratio is 37.61%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CMI shares. Truist Financial raised their target price on Cummins from $342.00 to $380.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. 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 research report on Wednesday, September 3rd. Barclays boosted their target price on shares of Cummins from $381.00 to $387.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a report on Monday, August 11th. Finally, Citigroup lifted their price target on shares of Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $393.57.

Cummins Company 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.