Cummins Inc. $CMI Shares Purchased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise increased its position in shares of Cummins Inc. (NYSE:CMI) by 76.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,954 shares of the company’s stock after acquiring an additional 5,169 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Cummins were worth $6,431,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CMI. Nicolet Advisory Services LLC grew its stake in shares of Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after buying an additional 17 shares during the period. Uhlmann Price Securities LLC lifted its holdings in Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after acquiring an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after acquiring an additional 18 shares during the period. Financial Consulate Inc. grew its position in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after acquiring an additional 18 shares during the period. Finally, ICW Investment Advisors LLC increased its stake in Cummins by 2.6% during the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after acquiring an additional 18 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In related news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, 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. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

Cummins Stock Down 0.7%

NYSE:CMI opened at $694.12 on Thursday. Cummins Inc. has a 52 week low of $317.74 and a 52 week high of $737.76. The stock’s fifty day moving average is $668.44 and its two-hundred day moving average is $595.56. The stock has a market capitalization of $95.78 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.96 earnings per share. Research analysts anticipate that Cummins Inc. will post 29.31 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s payout ratio is currently 41.52%.

Analysts Set New Price Targets

CMI has been the topic of a number of research analyst reports. Robert W. Baird set a $700.00 target price on Cummins in a research report on Wednesday, May 6th. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Raymond James Financial upped their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, Truist Financial set a $815.00 target price on shares of Cummins in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $731.86.

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.