Cummins Inc. $CMI Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lessened its position in Cummins Inc. (NYSE:CMI) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,599 shares of the company’s stock after selling 2,353 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Cummins were worth $10,515,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. United Capital Management of KS Inc. lifted its holdings in Cummins by 2.0% in the 3rd quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock valued at $485,000 after purchasing an additional 22 shares in the last quarter. Betterment LLC grew its holdings in shares of Cummins by 3.5% during the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after buying an additional 23 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in shares of Cummins by 0.4% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after buying an additional 24 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of Cummins by 0.9% in the third quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock worth $1,154,000 after buying an additional 24 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its stake in shares of Cummins by 2.9% in the third quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock worth $365,000 after buying an additional 24 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CMI shares. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Morgan Stanley restated an “overweight” rating and issued a $675.00 price target on shares of Cummins in a research report on Friday, February 6th. Raymond James Financial lifted their price objective on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, Robert W. Baird set a $580.00 price objective on Cummins in a research note on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Insider Buying and Selling at Cummins

In other news, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president directly owned 7,214 shares in the company, valued at $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director directly owned 34,243 shares of the company’s stock, valued at $20,446,495.30. The trade was a 34.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $538.94 on Friday. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The stock has a market cap of $74.46 billion, a PE ratio of 26.26, a P/E/G ratio of 1.72 and a beta of 1.12. The firm has a 50-day simple moving average of $574.25 and a two-hundred day simple moving average of $499.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.16 EPS. As a group, analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio is 38.99%.

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.