Natixis Advisors LLC Sells 3,279 Shares of Cummins Inc. $CMI

Natixis Advisors LLC lessened its position in shares of Cummins Inc. (NYSE:CMIFree Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 94,508 shares of the company’s stock after selling 3,279 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of Cummins worth $48,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMI. Brighton Jones LLC increased its position in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares during the period. Intech Investment Management LLC increased its position in Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares during the period. Treasurer of the State of North Carolina increased its position in Cummins by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares during the period. ICW Investment Advisors LLC acquired a new stake in Cummins during the 2nd quarter valued at approximately $225,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Cummins during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last quarter. Insiders own 0.30% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $683.84 on Thursday. The company has a market cap of $94.36 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. 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 50 day moving average of $631.31 and a 200-day moving average of $574.54.

Cummins (NYSE:CMIGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.37 billion. During the same quarter last year, the firm posted $5.96 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Analysts Set New Price Targets

A number of research firms have weighed in on CMI. Morgan Stanley increased their target price on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus price target of $705.79.

Read Our Latest Analysis on CMI

Cummins Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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