Cummins Inc. $CMI Shares Sold by Groupama Asset Managment

Groupama Asset Managment cut its stake in shares of Cummins Inc. (NYSE:CMI) by 68.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 810 shares of the company’s stock after selling 1,739 shares during the period. Groupama Asset Managment’s holdings in Cummins were worth $436,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Activest Wealth Management increased its stake in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Cummins by 1,500.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Cummins in the 4th quarter valued at about $27,000. Key Financial Inc grew its holdings in shares of Cummins by 62.5% during the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in Cummins during the 4th quarter worth approximately $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMI has been the topic of a number of recent research reports. Barclays lifted their price target 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. Wells Fargo & Company raised their target price on shares of Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Citigroup upped their price target on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Finally, UBS Group reissued a “buy” rating on shares of Cummins in a research report on Wednesday, June 17th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $740.07.

Cummins Price Performance

CMI opened at $635.55 on Monday. The company has a fifty day simple moving average of $670.10 and a 200 day simple moving average of $622.95. The firm has a market cap of $87.70 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 1.55 and a beta of 1.24. Cummins Inc. has a twelve month low of $354.68 and a twelve month high of $737.76. 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 (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.96 EPS. Equities research analysts expect that Cummins Inc. will post 29.39 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 1.4%. This is a positive change from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins’s payout ratio is presently 41.52%.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares in the company, valued at $7,165,755. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the sale, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. This represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 in the last three months. 0.30% of the stock is currently owned by company insiders.

Cummins 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.