Cummins Inc. $CMI Position Trimmed by Danske Bank A S

Danske Bank A S lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 154,109 shares of the company’s stock after selling 7,751 shares during the period. Danske Bank A S’s holdings in Cummins were worth $78,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CMI. Brighton Jones LLC grew its stake in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. Intech Investment Management LLC grew its stake in Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Cummins by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after acquiring an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC purchased a new position in Cummins during the 2nd quarter valued at about $225,000. Finally, Osterweis Capital Management Inc. purchased a new position in Cummins during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMI. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Citigroup boosted their price target on Cummins from $630.00 to $710.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Finally, UBS Group set a $565.00 price target on Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $600.27.

Cummins Trading Up 5.3%

Shares of NYSE CMI opened at $672.51 on Friday. The stock has a market cap of $92.91 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.02 and a beta of 1.14. The business has a 50 day simple moving average of $581.03 and a 200 day simple moving average of $536.06. Cummins Inc. has a 52 week low of $290.73 and a 52 week high of $674.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.16 EPS. On average, research analysts predict that Cummins Inc. will post 26.03 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins’s dividend payout ratio is presently 38.99%.

Insider Activity

In other Cummins news, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the sale, the director owned 34,243 shares of the company’s stock, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the sale, the vice president directly owned 15,130 shares of the company’s stock, valued at $8,849,990.90. The trade was a 22.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,195 shares of company stock valued at $18,397,489. Insiders own 0.30% of the company’s stock.

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.