Vontobel Holding Ltd. Sells 5,358 Shares of Cummins Inc. (NYSE:CMI)

Vontobel Holding Ltd. lessened its position in Cummins Inc. (NYSE:CMI) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,608 shares of the company’s stock after selling 5,358 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cummins were worth $21,477,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after acquiring an additional 126,703 shares during the period. Fisher Asset Management LLC grew its position in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. FMR LLC grew its position in Cummins by 0.8% in the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several research analyst reports. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average price target of $383.08.

Cummins Trading Up 1.2 %

Shares of CMI stock opened at $373.71 on Friday. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a market capitalization of $51.38 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. The firm has a 50-day moving average price of $361.20 and a 200 day moving average price of $338.14. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the firm posted $4.14 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Cummins Company Profile

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.