Boston Partners Has $564.57 Million Stock Holdings in Cummins Inc. $CMI

Boston Partners decreased its stake in Cummins Inc. (NYSE:CMI) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,100,539 shares of the company’s stock after selling 18,861 shares during the quarter. Boston Partners owned 0.80% of Cummins worth $564,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SIR Capital Management L.P. bought a new stake in shares of Cummins in the fourth quarter worth about $6,074,000. Titan Investment Solutions Ltd bought a new position in shares of Cummins during the fourth quarter worth about $6,124,000. Martingale Asset Management L P grew its holdings in shares of Cummins by 41.3% during the fourth quarter. Martingale Asset Management L P now owns 2,271 shares of the company’s stock worth $1,159,000 after buying an additional 664 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Cummins by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 587,494 shares of the company’s stock worth $299,887,000 after buying an additional 111,676 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Cummins by 2.4% during the fourth quarter. Korea Investment CORP now owns 158,430 shares of the company’s stock worth $80,871,000 after buying an additional 3,680 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In other news, CAO Nicole Lamb-Hale sold 2,408 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $685.34, for a total value of $1,650,298.72. Following the transaction, the chief accounting officer directly owned 14,084 shares of the company’s stock, valued at $9,652,328.56. The trade was a 14.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were 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 represents a 29.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by corporate insiders.

Cummins Trading Up 0.6%

Shares of CMI stock opened at $659.77 on Friday. The firm has a market capitalization of $91.04 billion, a P/E ratio of 34.24, a P/E/G ratio of 1.60 and a beta of 1.23. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $648.43 and its 200 day simple moving average is $583.26.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion for 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%.Cummins’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.96 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Friday, May 22nd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s payout ratio is presently 41.52%.

Analysts Set New Price Targets

CMI has been the subject of a number of analyst reports. Robert W. Baird set a $700.00 price target on Cummins in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on Cummins from $600.00 to $725.00 and gave the stock a “neutral” 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. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $565.00 to $850.00 in a research note on Monday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $726.14.

Cummins Company 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.