Natixis Advisors LLC Sells 3,279 Shares of Cummins Inc. $CMI

Natixis Advisors LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,508 shares of the company’s stock after selling 3,279 shares during the period. Natixis Advisors LLC’s holdings in Cummins were worth $48,242,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Fisher Asset Management LLC raised its stake in shares of Cummins by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after purchasing an additional 91,956 shares during the period. Accredited Wealth Management LLC raised its stake in shares of Cummins by 3,100.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock worth $1,352,000 after purchasing an additional 3,100 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Cummins by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock worth $20,610,000 after purchasing an additional 2,574 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Cummins during the 3rd quarter worth $11,129,000. Finally, Payden & Rygel bought a new stake in shares of Cummins during the 3rd quarter worth $9,757,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 1.7%

Shares of CMI opened at $683.84 on Thursday. The business has a 50-day moving average of $631.31 and a 200 day moving average of $574.54. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The firm has a market cap of $94.36 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

Cummins (NYSE:CMI) last announced its quarterly earnings data 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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $5.96 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

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

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Barclays lifted their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Insider Buying and Selling

In related news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. This trade represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins 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 transaction, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. The trade was a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last quarter. 0.30% of the stock is currently owned by company insiders.

About Cummins

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.