ASR Vermogensbeheer N.V. Sells 3,674 Shares of Cummins Inc. $CMI

Key Points

• ASR Vermogensbeheer N.V. cut its Cummins stake by 11.8% in the fourth quarter, selling 3,674 shares and ending with 27,365 shares valued at about $13.97 million.
• Analyst sentiment on Cummins remains constructive, with 11 Buy ratings and 6 Hold ratings; the consensus view is Moderate Buy with a target price of $649.47, though several firms recently raised their price targets significantly.
• Cummins recently posted better-than-expected quarterly results, reporting EPS of $6.15 versus estimates of $5.63 and revenue of $8.40 billion, while also paying a $2.00 quarterly dividend that annualizes to $8.00 per share.

ASR Vermogensbeheer N.V. lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,365 shares of the company's stock after selling 3,674 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Cummins were worth $13,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC boosted its position in shares of Cummins by 0.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock valued at $1,908,000 after acquiring an additional 18 shares in the last quarter. Financial Consulate Inc. grew its stake in shares of Cummins by 16.8% in the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after purchasing an additional 18 shares during the period. Gilbert & Cook Inc. raised its holdings in shares of Cummins by 1.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock worth $947,000 after buying an additional 19 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Cummins by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company's stock worth $501,000 after buying an additional 20 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its position in shares of Cummins by 2.3% during the 4th quarter. Red Door Wealth Management LLC now owns 878 shares of the company's stock worth $448,000 after buying an additional 20 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CMI. Truist Financial set a $815.00 price target on Cummins in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Cummins from $675.00 to $752.00 and gave the company an "overweight" rating in a research note on Wednesday. Robert W. Baird set a $700.00 target price on shares of Cummins in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Cummins from $693.00 to $794.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, UBS Group set a $565.00 price objective on shares of Cummins and gave the stock a "neutral" rating in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.47.

Cummins Price Performance

Shares of NYSE CMI opened at $679.25 on Friday. The stock has a market capitalization of $93.73 billion, a PE ratio of 35.25, a P/E/G ratio of 1.75 and a beta of 1.27. Cummins Inc. has a fifty-two week low of $305.13 and a fifty-two week high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.16. The business has a fifty day moving average price of $586.92 and a two-hundred day moving average price of $543.54.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts' consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter last year, the business earned $5.96 earnings per share. Cummins's revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Cummins Inc. will post 27.9 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins's dividend payout ratio is presently 41.52%.

Insider Transactions at Cummins

In related news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $685.34, for a total value of $1,650,298.72. Following the sale, the chief accounting officer directly owned 14,084 shares of the company's stock, valued at $9,652,328.56. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 33,603 shares of company stock worth $20,047,788. 0.30% of the stock is owned by insiders.

Cummins Profile

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.

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