Cummins Inc. (NYSE:CMI) Stock Holdings Increased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Cummins Inc. (NYSE:CMI) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,038 shares of the company’s stock after purchasing an additional 128 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cummins were worth $1,307,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kingsview Wealth Management LLC boosted its holdings in shares of Cummins by 45.8% in the first quarter. Kingsview Wealth Management LLC now owns 3,462 shares of the company’s stock valued at $1,020,000 after acquiring an additional 1,087 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Cummins by 58.9% in the 1st quarter. Blair William & Co. IL now owns 23,724 shares of the company’s stock worth $6,990,000 after buying an additional 8,793 shares in the last quarter. Banco Santander S.A. lifted its holdings in shares of Cummins by 2.0% in the first quarter. Banco Santander S.A. now owns 3,841 shares of the company’s stock valued at $1,132,000 after buying an additional 77 shares during the period. First Foundation Advisors acquired a new position in Cummins during the first quarter worth about $150,000. Finally, Westfield Capital Management Co. LP bought a new stake in Cummins in the first quarter worth about $5,244,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 0.5 %

NYSE:CMI opened at $361.85 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market capitalization of $49.64 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.79 and a beta of 0.97. The stock’s 50 day moving average price is $327.55 and its 200 day moving average price is $301.04. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.21.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.73 EPS. On average, research analysts forecast that Cummins Inc. will post 20.61 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.01%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,576 shares of company stock worth $9,033,945 over the last 90 days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup lifted their target price on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial upped their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $334.33.

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.