Achmea Investment Management B.V. Raises Position in Cummins Inc. (NYSE:CMI)

Achmea Investment Management B.V. raised its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,184 shares of the company's stock after buying an additional 13,199 shares during the quarter. Achmea Investment Management B.V.'s holdings in Cummins were worth $19,178,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after purchasing an additional 250,650 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cummins by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company's stock valued at $1,174,504,000 after purchasing an additional 84,112 shares during the period. Fisher Asset Management LLC increased its position in shares of Cummins by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock worth $1,071,059,000 after acquiring an additional 66,887 shares during the period. Northern Trust Corp grew its position in shares of Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock worth $656,418,000 after buying an additional 246,807 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cummins by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,093 shares of the company's stock valued at $566,856,000 after purchasing an additional 99,009 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Up 1.9%

CMI opened at $324.85 on Friday. The stock has a market capitalization of $44.75 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 0.81. The business has a 50-day moving average of $314.05 and a two-hundred day moving average of $333.29.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same period in the previous year, the company posted $5.08 EPS. The company's revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, May 23rd. Cummins's dividend payout ratio (DPR) is 36.22%.

Insider Buying and Selling at Cummins

In other news, Director John H. Stone acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $332.08 per share, with a total value of $332,080.00. Following the completion of the acquisition, the director now directly owns 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CMI shares. UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and lowered their price target for the company from $400.00 to $240.00 in a report on Monday, April 7th. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and increased their price target for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. Robert W. Baird dropped their target price on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Citigroup reaffirmed a "buy" rating and set a $360.00 price target (up previously from $350.00) on shares of Cummins in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $358.08.

About Cummins

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.

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