Cummins Inc. $CMI Stock: Robeco Institutional Asset Management B.V. Boosts Position

Robeco Institutional Asset Management B.V. boosted its stake in Cummins Inc. (NYSE:CMI) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,026,782 shares of the company’s stock after purchasing an additional 62,107 shares during the quarter. Cummins makes up 0.6% of Robeco Institutional Asset Management B.V.’s investment portfolio, making the stock its 26th largest position. Robeco Institutional Asset Management B.V. owned about 0.75% of Cummins worth $530,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CMI. Wellington Management Group LLP raised its stake in Cummins by 243.5% in the second quarter. Wellington Management Group LLP now owns 495,047 shares of the company’s stock valued at $353,072,000 after purchasing an additional 350,910 shares in the last quarter. Fulcrum Wealth Advisors LLC boosted its holdings in Cummins by 611.8% during the 3rd quarter. Fulcrum Wealth Advisors LLC now owns 16,264 shares of the company’s stock valued at $8,401,000 after acquiring an additional 13,979 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Cummins by 45.2% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 14,571 shares of the company’s stock worth $6,981,000 after acquiring an additional 4,538 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Cummins in the 2nd quarter worth approximately $1,408,353,000. Finally, CWS Financial Advisors LLC increased its position in shares of Cummins by 973.2% during the third quarter. CWS Financial Advisors LLC now owns 4,733 shares of the company’s stock valued at $2,445,000 after buying an additional 4,292 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In related news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Cummins Price Performance

CMI stock opened at $535.42 on Wednesday. The company has a market capitalization of $73.71 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24. Cummins Inc. has a one year low of $407.57 and a one year high of $737.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The company’s fifty day moving average price is $551.71 and its 200-day moving average price is $620.41.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. During the same quarter in the previous year, the business earned $6.43 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 29.98 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be given a dividend of $2.20 per share. The ex-dividend date is Friday, November 20th. This represents a $8.80 annualized dividend and a yield of 1.6%. Cummins’s dividend payout ratio (DPR) is 44.97%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CMI shares. Sanford C. Bernstein reissued a “market perform” rating and set a $700.00 price target on shares of Cummins in a research report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price objective on Cummins from $690.00 to $600.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 23rd. UBS Group dropped their target price on shares of Cummins from $835.00 to $741.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Barclays cut their price target on Cummins from $760.00 to $675.00 and set an “overweight” rating for the company in a research note on Monday. Finally, DA Davidson upped their price objective on Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $703.18.

Cummins Company Profile

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins’ product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.