BLI Banque de Luxembourg Investments Has $11.69 Million Position in Cummins Inc. $CMI

Key Points

• BLI Banque de Luxembourg Investments reduced its Cummins stake by 17.5% in the fourth quarter, selling 4,821 shares and leaving it with 22,749 shares valued at about $11.69 million.
• Cummins reported better-than-expected quarterly results, posting EPS of $6.15 versus estimates of $5.63 and revenue of $8.40 billion, while revenue rose 2.7% year over year.
• The company also paid a $2.00 quarterly dividend ($8.00 annualized), and analysts remain generally constructive with a consensus “Moderate Buy” rating and average price target of $726.14.

BLI Banque de Luxembourg Investments cut its stake in Cummins Inc. (NYSE:CMI - Free Report) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,749 shares of the company's stock after selling 4,821 shares during the period. BLI Banque de Luxembourg Investments' holdings in Cummins were worth $11,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Vanguard Group Inc. increased its stake in shares of Cummins by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company's stock valued at $9,058,841,000 after purchasing an additional 98,544 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Cummins by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company's stock valued at $1,822,534,000 after purchasing an additional 35,286 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Cummins by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company's stock valued at $1,741,004,000 after purchasing an additional 43,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company's stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cummins in the 4th quarter valued at $863,441,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 3.2%

NYSE CMI opened at $671.96 on Tuesday. The business's 50-day moving average price is $638.58 and its two-hundred day moving average price is $578.90. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08. The firm has a market capitalization of $92.72 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $5.96 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins's dividend payout ratio is 41.52%.

Analyst Ratings Changes

CMI has been the topic of several recent analyst reports. Wall Street Zen lowered Cummins from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Wells Fargo & Company lifted their price target on Cummins from $693.00 to $794.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Citigroup lifted their price target on Cummins from $710.00 to $770.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Argus boosted their price objective on Cummins from $696.00 to $770.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Cummins from $600.00 to $725.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Cummins currently has an average rating of "Moderate Buy" and an average price target of $726.14.

Insider Transactions at Cummins

In other news, VP Nathan R. Stoner sold 607 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total value of $421,294.42. Following the completion of the sale, the vice president directly owned 9,447 shares of the company's stock, valued at $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was 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 directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company's stock.

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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