Cummins Inc. (NYSE:CMI) Stock Holdings Increased by KBC Group NV

KBC Group NV lifted its stake in Cummins Inc. (NYSE:CMIGet Rating) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,877 shares of the company’s stock after purchasing an additional 2,867 shares during the quarter. KBC Group NV’s holdings in Cummins were worth $5,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CMI. IFM Investors Pty Ltd increased its holdings in Cummins by 18.8% in the first quarter. IFM Investors Pty Ltd now owns 22,559 shares of the company’s stock worth $4,627,000 after buying an additional 3,573 shares during the last quarter. Buckley Wealth Management LLC acquired a new position in Cummins in the first quarter worth approximately $341,000. SFE Investment Counsel grew its holdings in Cummins by 150.4% during the first quarter. SFE Investment Counsel now owns 24,913 shares of the company’s stock valued at $5,110,000 after purchasing an additional 14,963 shares during the last quarter. D.B. Root & Company LLC grew its holdings in Cummins by 4.5% during the first quarter. D.B. Root & Company LLC now owns 4,339 shares of the company’s stock valued at $890,000 after purchasing an additional 185 shares during the last quarter. Finally, JJJ Advisors Inc. grew its holdings in Cummins by 219.4% during the first quarter. JJJ Advisors Inc. now owns 214 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. 80.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMI shares. Credit Suisse Group increased their price target on Cummins from $249.00 to $266.00 and gave the company an “outperform” rating in a report on Wednesday. Cowen lowered their price target on Cummins from $281.00 to $267.00 in a report on Thursday, July 7th. Morgan Stanley lowered their price target on Cummins from $205.00 to $187.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Citigroup lowered their price target on Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Finally, Sanford C. Bernstein cut Cummins from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $238.00 to $190.00 in a research report on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.60.

Insider Buying and Selling

In related news, Director Franklin R. Changdiaz sold 1,560 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $199.62, for a total value of $311,407.20. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $966,560.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cummins news, Director Franklin R. Changdiaz sold 1,560 shares of Cummins stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $199.62, for a total transaction of $311,407.20. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $966,560.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 4,750 shares of Cummins stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $205.00, for a total value of $973,750.00. Following the transaction, the vice president now directly owns 16,348 shares of the company’s stock, valued at $3,351,340. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Cummins Stock Up 0.2 %

Shares of CMI stock opened at $220.02 on Friday. The stock has a market cap of $31.02 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Cummins Inc. has a one year low of $184.27 and a one year high of $247.48. The stock has a fifty day moving average price of $203.15 and a 200 day moving average price of $205.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 1.07.

Cummins (NYSE:CMIGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.35 by $0.59. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.48 billion. Cummins had a return on equity of 23.41% and a net margin of 8.26%. Cummins’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $4.15 earnings per share. Analysts predict that Cummins Inc. will post 17.59 earnings per share for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 19th will be given a $1.57 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.45. This represents a $6.28 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, August 18th. Cummins’s dividend payout ratio (DPR) is 40.62%.

About Cummins

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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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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