Mn Services Vermogensbeheer B.V. Cuts Stock Position in Cummins Inc. (NYSE:CMI)

Mn Services Vermogensbeheer B.V. lowered its holdings in Cummins Inc. (NYSE:CMI) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,003 shares of the company’s stock after selling 2,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cummins were worth $15,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CMI. OFI Invest Asset Management purchased a new position in shares of Cummins during the 3rd quarter valued at $25,000. Silver Oak Securities Incorporated bought a new stake in shares of Cummins during the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates bought a new stake in shares of Cummins during the 3rd quarter valued at $29,000. Tyler Stone Wealth Management bought a new stake in shares of Cummins during the 2nd quarter valued at $30,000. Finally, Quarry LP bought a new stake in shares of Cummins during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMI. Morgan Stanley began coverage on Cummins in a research note on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective on the stock. TD Cowen boosted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup upped their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and upped their target price for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cummins currently has a consensus rating of “Hold” and an average price target of $276.10.

Insider Activity

In other news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the transaction, the director now owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. Insiders sold a total of 51,289 shares of company stock worth $13,576,838 in the last quarter. 0.56% of the stock is owned by company insiders.

Cummins Trading Down 1.4 %

Shares of CMI stock opened at $298.63 on Monday. The stock has a market capitalization of $40.84 billion, a PE ratio of 57.65, a P/E/G ratio of 2.03 and a beta of 1.04. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The business has a 50-day moving average of $275.89 and a 200 day moving average of $246.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.52 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is presently 129.73%.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.