BLI Banque de Luxembourg Investments Sells 4,821 Shares of Cummins Inc. $CMI

BLI Banque de Luxembourg Investments trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 17.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,749 shares of the company’s stock after selling 4,821 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in Cummins were worth $11,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in Cummins during the fourth quarter valued at $26,000. Activest Wealth Management grew its holdings in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Wellington Shields Capital Management LLC bought a new position in Cummins during the fourth quarter valued at $27,000. Ares Financial Consulting LLC bought a new position in Cummins during the fourth quarter valued at $29,000. Finally, Holos Integrated Wealth LLC bought a new position in Cummins during the fourth quarter valued at $32,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

NYSE:CMI opened at $671.96 on Tuesday. The firm has a market capitalization of $92.72 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 1.59 and a beta of 1.24. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The stock has a fifty day moving average of $638.58 and a 200 day moving average of $578.90. 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 posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $5.96 earnings per share. On average, research analysts expect that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s payout ratio is 41.52%.

Insider Buying and Selling

In other news, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Morgan Stanley raised their price target on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial raised their price target on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Finally, Barclays raised their price target on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $726.14.

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.