Union Bancaire Privee UBP SA Decreases Position in Cummins Inc. $CMI

Union Bancaire Privee UBP SA reduced its stake in Cummins Inc. (NYSE:CMI) by 18.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,864 shares of the company’s stock after selling 3,735 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cummins were worth $9,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cambient Family Office LLC boosted its stake in Cummins by 4.4% in the first quarter. Cambient Family Office LLC now owns 2,182 shares of the company’s stock valued at $1,174,000 after acquiring an additional 91 shares in the last quarter. River Street Advisors LLC increased its position in shares of Cummins by 1.2% during the first quarter. River Street Advisors LLC now owns 7,010 shares of the company’s stock worth $3,771,000 after purchasing an additional 81 shares in the last quarter. Laurel Oak Wealth Management LLC lifted its holdings in shares of Cummins by 3.8% in the 1st quarter. Laurel Oak Wealth Management LLC now owns 568 shares of the company’s stock valued at $306,000 after purchasing an additional 21 shares during the last quarter. Columbus Macro LLC boosted its position in shares of Cummins by 3.9% in the 1st quarter. Columbus Macro LLC now owns 19,965 shares of the company’s stock valued at $10,742,000 after purchasing an additional 747 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Cummins in the 1st quarter valued at about $3,766,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Bonnie J. Fetch sold 652 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the sale, the executive vice president owned 11,679 shares in the company, valued at $8,177,519.01. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This represents a 6.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research analyst reports. Evercore reaffirmed an “outperform” rating and set a $845.00 price target on shares of Cummins in a research report on Monday, May 11th. Citigroup raised their target price on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Cummins in a report on Wednesday, June 17th. Raymond James Financial upped their price target on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, Barclays raised their price objective on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $731.86.

Cummins Trading Down 5.7%

NYSE:CMI opened at $686.26 on Friday. Cummins Inc. has a 12-month low of $322.45 and a 12-month high of $737.76. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $672.37 and its 200-day simple moving average is $597.71. The firm has a market cap of $94.70 billion, a P/E ratio of 35.61, a PEG ratio of 1.78 and a beta of 1.23.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the company earned $5.96 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Cummins Inc. will post 29.31 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is 41.52%.

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.