Cummins Inc. $CMI Stock Holdings Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its position in Cummins Inc. (NYSE:CMI) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,679 shares of the company’s stock after purchasing an additional 2,716 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cummins were worth $21,785,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after acquiring an additional 98,544 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cummins by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after acquiring an additional 35,286 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after purchasing an additional 43,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cummins in the fourth quarter valued at approximately $863,441,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and raised their target price for the company from $565.00 to $850.00 in a report on Monday. Finally, Citigroup lifted their price target on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Cummins has an average rating of “Moderate Buy” and a consensus price target of $726.14.

Cummins Trading Up 3.2%

Shares of CMI opened at $671.96 on Tuesday. The stock’s 50-day moving average price is $638.58 and its 200 day moving average price is $578.90. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $92.72 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 1.59 and a beta of 1.24. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the prior year, the company posted $5.96 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s payout ratio is presently 41.52%.

Insiders Place Their Bets

In other news, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 approximately $8,344,773.06. This represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marvin Boakye sold 3,481 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 8,508 shares in the company, valued at $5,784,589.20. This trade represents a 29.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,579 shares of company stock worth $9,377,684 over the last ninety days. 0.30% of the stock is owned by insiders.

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.