Aster Capital Management DIFC Ltd Has $249,000 Stock Holdings in Cummins Inc. $CMI

Aster Capital Management DIFC Ltd trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 62.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 487 shares of the company’s stock after selling 799 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Cummins were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Thompson Investment Management Inc. bought a new position in shares of Cummins in the fourth quarter worth about $26,000. Activest Wealth Management grew its position in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Cummins during the fourth quarter valued at approximately $27,000. Ares Financial Consulting LLC acquired a new stake in Cummins during the fourth quarter valued at approximately $29,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Cummins during the fourth quarter valued at approximately $32,000. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on shares of Cummins in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Barclays increased their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial increased their target price on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $726.14.

Cummins Trading Up 3.2%

Shares of CMI stock opened at $701.15 on Wednesday. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08. The firm has a 50 day moving average price of $654.05 and a two-hundred day moving average price of $586.69. The company has a market capitalization of $96.75 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24. 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 announced its quarterly earnings data 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. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $5.96 earnings per share. As a group, analysts predict that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Dividend Announcement

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

Insider Activity

In other news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the transaction, the executive vice president owned 11,679 shares in the company, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 insiders.

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.