Metis Global Partners LLC Has $2.70 Million Stock Holdings in Cummins Inc. $CMI

Metis Global Partners LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 4.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,251 shares of the company’s stock after selling 411 shares during the quarter. Metis Global Partners LLC’s holdings in Cummins were worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Cummins by 4.1% in the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after acquiring an additional 83 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Cummins by 16.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 2,136 shares of the company’s stock valued at $670,000 after acquiring an additional 306 shares in the last quarter. Alps Advisors Inc. boosted its stake in Cummins by 32.4% in the 1st quarter. Alps Advisors Inc. now owns 4,662 shares of the company’s stock worth $1,461,000 after purchasing an additional 1,140 shares during the period. Xponance Inc. grew its position in Cummins by 1.3% during the 1st quarter. Xponance Inc. now owns 22,868 shares of the company’s stock worth $7,168,000 after purchasing an additional 298 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Cummins by 4.8% during the 1st quarter. Ballentine Partners LLC now owns 2,626 shares of the company’s stock valued at $823,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This trade represents a 19.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Andrew Smith sold 200 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $449.10, for a total value of $89,820.00. Following the completion of the transaction, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,183,476.20. The trade was a 0.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,949 shares of company stock valued at $15,674,705 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

Cummins Stock Performance

CMI opened at $474.10 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. The company has a market cap of $65.32 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The stock has a 50-day moving average of $420.80 and a 200-day moving average of $369.77. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $482.53.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.83 by $0.76. The firm had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.86 EPS. As a group, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.7%. Cummins’s dividend payout ratio (DPR) is 41.52%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cummins in a research note on Wednesday. Truist Financial increased their price target on shares of Cummins from $434.00 to $522.00 and gave the stock a “hold” rating in a research report on Friday. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Wolfe Research upgraded shares of Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $428.93.

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.