Banque Cantonale Vaudoise Has $3.46 Million Position in Cummins Inc. $CMI

Banque Cantonale Vaudoise reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 49.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,785 shares of the company’s stock after selling 6,725 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Cummins were worth $3,464,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its position in Cummins by 7.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,230 shares of the company’s stock valued at $628,000 after acquiring an additional 84 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Cummins during the fourth quarter valued at approximately $17,578,000. Handelsbanken Fonder AB raised its position in Cummins by 55.3% during the fourth quarter. Handelsbanken Fonder AB now owns 2,477 shares of the company’s stock valued at $1,264,000 after acquiring an additional 882 shares in the last quarter. Csenge Advisory Group raised its position in Cummins by 7.2% during the fourth quarter. Csenge Advisory Group now owns 6,531 shares of the company’s stock valued at $3,334,000 after acquiring an additional 441 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Cummins by 9.5% during the fourth quarter. ProShare Advisors LLC now owns 25,618 shares of the company’s stock valued at $13,077,000 after acquiring an additional 2,230 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In related news, VP Marvin Boakye sold 3,481 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the transaction, the vice president owned 8,508 shares of the company’s stock, valued at approximately $5,784,589.20. The trade was a 29.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. This trade represents a 29.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,397 shares of company stock valued at $14,465,833 in the last three months. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CMI shares. Barclays raised their price objective on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Argus set a $696.00 price objective on shares of Cummins in a research report on Tuesday, February 10th. Evercore reaffirmed an “outperform” rating and set a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Finally, Morgan Stanley lifted their price target on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $677.87.

Cummins Price Performance

Shares of Cummins stock opened at $669.22 on Thursday. The firm has a fifty day simple moving average of $608.71 and a 200-day simple moving average of $560.58. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08. The stock has a market capitalization of $92.35 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 1.66 and a beta of 1.27.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the company earned $5.96 earnings per share. Cummins’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins’s payout ratio is 41.52%.

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.