Cummins Inc. (NYSE:CMI) Shares Acquired by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd raised its stake in shares of Cummins Inc. (NYSE:CMI) by 212.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,010 shares of the company’s stock after buying an additional 21,775 shares during the period. Temasek Holdings Private Ltd’s holdings in Cummins were worth $11,159,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Mariner Investment Group LLC acquired a new position in shares of Cummins during the fourth quarter valued at approximately $1,046,000. FMR LLC boosted its stake in Cummins by 5.7% during the 4th quarter. FMR LLC now owns 1,242,362 shares of the company’s stock valued at $433,087,000 after purchasing an additional 67,266 shares in the last quarter. Fayez Sarofim & Co increased its position in shares of Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company’s stock valued at $2,857,000 after purchasing an additional 3,440 shares during the period. National Bank of Canada FI raised its stake in shares of Cummins by 4.2% in the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company’s stock worth $28,359,000 after buying an additional 3,298 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cummins by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company’s stock valued at $54,876,000 after buying an additional 6,107 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In related news, Director John H. Stone acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were purchased 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 owns 2,441 shares of the company’s stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

Cummins Trading Up 0.8%

NYSE CMI opened at $334.78 on Friday. The firm’s 50 day moving average price is $304.05 and its two-hundred day moving average price is $341.44. The stock has a market cap of $46.12 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.19 and a beta of 1.02. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. 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 issued its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.08 earnings per share. Equities analysts anticipate 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, June 5th. Stockholders of record on Friday, May 23rd will be issued a $1.82 dividend. The ex-dividend date is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.17%. Cummins’s dividend payout ratio is 36.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and cut their target price for the company from $400.00 to $240.00 in a research note on Monday, April 7th. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Truist Financial dropped their price target on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $354.83.

Cummins 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.