AEGON ASSET MANAGEMENT UK Plc Has $93.64 Million Stock Position in Cummins Inc. $CMI

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Cummins Inc. (NYSE:CMI) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,387 shares of the company’s stock after selling 28,217 shares during the quarter. Cummins makes up 1.2% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 18th largest holding. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cummins were worth $93,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMI. Uhlmann Price Securities LLC lifted its position in shares of Cummins by 2.4% in the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after acquiring an additional 17 shares in the last quarter. Diversified Trust Co boosted its stake in Cummins by 26.8% in the 1st quarter. Diversified Trust Co now owns 10,314 shares of the company’s stock worth $5,549,000 after purchasing an additional 2,182 shares during the period. Westmount Partners LLC purchased a new position in Cummins during the 1st quarter worth approximately $247,000. Physicians Financial Services Inc. grew its position in Cummins by 1.0% during the 1st quarter. Physicians Financial Services Inc. now owns 12,337 shares of the company’s stock worth $6,638,000 after purchasing an additional 120 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Cummins by 50.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 83,614 shares of the company’s stock valued at $42,681,000 after purchasing an additional 27,899 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of research analyst reports. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group reissued a “buy” rating on shares of Cummins in a research report on Wednesday. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial raised their price objective on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $731.86.

Cummins Stock Down 0.1%

CMI stock opened at $716.50 on Friday. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $737.76. 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 company has a market cap of $98.87 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.75 and a beta of 1.23. The company has a 50 day moving average of $663.00 and a two-hundred day moving average of $590.68.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. 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 business posted $5.96 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 29.44 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity

In other Cummins 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 transaction, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated 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 approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is currently owned by company insiders.

Cummins 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.