Mn Services Vermogensbeheer B.V. Acquires 1,280 Shares of Cummins Inc. $CMI

Mn Services Vermogensbeheer B.V. raised its stake in shares of Cummins Inc. (NYSE:CMI) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,383 shares of the company’s stock after buying an additional 1,280 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cummins were worth $27,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Gilbert & Cook Inc. increased its holdings in shares of Cummins by 1.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock valued at $947,000 after acquiring an additional 19 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in Cummins by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock worth $501,000 after purchasing an additional 20 shares during the last quarter. United Capital Management of KS Inc. boosted its position in Cummins by 2.0% during the third quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock worth $485,000 after purchasing an additional 22 shares during the period. Betterment LLC boosted its position in Cummins by 3.5% during the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after purchasing an additional 23 shares during the period. Finally, Stock Yards Bank & Trust Co. grew its holdings in Cummins by 0.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 5.0%

Shares of CMI stock opened at $537.21 on Wednesday. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The firm has a market cap of $74.22 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The stock has a 50 day moving average of $569.08 and a 200-day moving average of $508.23. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the company posted $5.16 earnings per share. Cummins’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. Cummins’s dividend payout ratio is 38.99%.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Truist Financial reiterated a “buy” rating and issued a $703.00 target price (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. Citigroup lifted their target price on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the stock a “market perform” rating in a research report on Friday, February 6th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average target price of $588.93.

Insider Buying and Selling

In other news, VP Donald G. Jackson sold 1,600 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This represents a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is currently owned by corporate insiders.

Cummins 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.