Cummins Inc. $CMI Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. raised its holdings in Cummins Inc. (NYSE:CMI) by 31.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,810 shares of the company’s stock after acquiring an additional 1,637 shares during the period. Machina Capital S.A.S.’s holdings in Cummins were worth $3,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CMI. Valmark Advisers Inc. increased its position in shares of Cummins by 1.9% during the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after purchasing an additional 16 shares during the last quarter. Guardian Partners Inc. lifted its position in Cummins by 1.0% in the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock worth $852,000 after buying an additional 16 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in Cummins by 2.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock worth $681,000 after buying an additional 19 shares during the last quarter. Sage Private Wealth Group LLC lifted its position in Cummins by 3.0% in the 3rd quarter. Sage Private Wealth Group LLC now owns 660 shares of the company’s stock worth $341,000 after buying an additional 19 shares during the last quarter. Finally, Ariadne Wealth Management LP boosted its stake in Cummins by 5.1% in the first quarter. Ariadne Wealth Management LP now owns 415 shares of the company’s stock worth $223,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Cummins from $608.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. UBS Group lowered their price objective on shares of Cummins from $741.00 to $675.00 and set a “buy” rating for the company in a report on Tuesday. Bank of America lowered their price objective on shares of Cummins from $731.00 to $600.00 in a report on Thursday, September 24th. Barclays cut their price objective on shares of Cummins from $675.00 to $600.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $700.00 target price on shares of Cummins in a report on Wednesday, August 5th. Thirteen equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $659.44.

Insider Buying and Selling

In other Cummins news, VP Earl Newsome sold 698 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares of the company’s stock, valued at $2,562,973.38. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Cummins Price Performance

CMI stock opened at $462.86 on Thursday. The firm’s 50-day moving average price is $520.51 and its two-hundred day moving average price is $597.84. Cummins Inc. has a 12-month low of $443.62 and a 12-month high of $737.76. The stock has a market capitalization of $63.45 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.20 and a beta of 1.26. The company has a current ratio of 1.74, a quick ratio of 1.13 and a debt-to-equity ratio of 0.46.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, November 5th. The company reported $8.25 EPS for the quarter, beating the consensus estimate of $8.20 by $0.05. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.89 billion. Cummins had a net margin of 9.26% and a return on equity of 26.82%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.59 earnings per share. As a group, equities analysts predict that Cummins Inc. will post 29.83 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, November 20th. Cummins’s payout ratio is currently 36.73%.

Cummins Profile

Cummins Inc. is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications. The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.