Universal Beteiligungs und Servicegesellschaft mbH Purchases 14,887 Shares of Cummins Inc. $CMI

Universal Beteiligungs und Servicegesellschaft mbH raised its position in Cummins Inc. (NYSE:CMI) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,032 shares of the company’s stock after buying an additional 14,887 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Cummins worth $43,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orca Wealth Management LLC grew its stake in shares of Cummins by 0.6% in the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after acquiring an additional 28 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Cummins by 1.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock valued at $1,076,000 after purchasing an additional 31 shares during the period. Bank of Jackson Hole Trust grew its position in shares of Cummins by 1.2% during the 1st quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock worth $887,000 after purchasing an additional 33 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Cummins by 0.5% during the 1st quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock worth $2,104,000 after purchasing an additional 34 shares in the last quarter. Finally, Van Hulzen Asset Management LLC increased its holdings in shares of Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock worth $872,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jennifer Rumsey sold 4,570 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares of the company’s stock, valued at $20,320,403.20. This trade represents a 9.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total transaction of $748,203.60. Following the transaction, the vice president owned 955 shares in the company, valued at $384,158.30. The trade was a 66.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,127 shares of company stock worth $16,993,030. Company insiders own 0.41% of the company’s stock.

Cummins Trading Down 0.0%

Shares of CMI traded down $0.12 during trading hours on Monday, hitting $462.49. 51,423 shares of the stock were exchanged, compared to its average volume of 877,148. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $484.84. The business has a 50-day moving average of $428.42 and a 200-day moving average of $376.10. The firm has a market capitalization of $63.84 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. During the same quarter in the previous year, the business earned $5.86 earnings per share. Cummins’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.7%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CMI shares. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. JPMorgan Chase & Co. lifted their price objective on Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Citigroup upped their target price on Cummins from $500.00 to $530.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, September 3rd. Finally, Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $445.93.

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.