Union Bancaire Privee UBP SA Sells 827 Shares of Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,747 shares of the company’s stock after selling 827 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cummins were worth $5,257,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CMI. BankPlus Trust Department bought a new position in Cummins during the 4th quarter worth $26,000. Meeder Asset Management Inc. increased its stake in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 52 shares during the period. TCTC Holdings LLC bought a new position in shares of Cummins during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Cummins in the fourth quarter worth approximately $30,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Cummins in the fourth quarter worth approximately $32,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 1.0%

Shares of Cummins stock opened at $323.84 on Thursday. The stock has a market capitalization of $44.61 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The stock has a 50 day moving average price of $305.97 and a two-hundred day moving average price of $337.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the previous year, the business posted $5.08 EPS. Cummins’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, May 23rd. Cummins’s payout ratio is currently 36.22%.

Insider Activity at Cummins

In other news, Director John H. Stone bought 1,000 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, with a total value of $332,080.00. Following the completion of the transaction, the director now directly owns 2,441 shares of the company’s stock, valued at $810,607.28. This represents a 69.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CMI shares. JPMorgan Chase & Co. increased their target price on shares of Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Truist Financial decreased their price objective on shares of Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised shares of Cummins from a “neutral” rating to a “buy” rating and upped their price target for the company from $410.00 to $431.00 in a research report on Tuesday, May 27th. Finally, Wall Street Zen lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $357.25.

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.