Cummins Inc. $CMI Shares Sold by Danske Bank A S

Key Points

• Danske Bank A S trimmed its position in Cummins by 4.8% in Q4, selling 7,751 shares and now holds 154,109 shares valued at about $78.67 million.
• Cummins beat expectations for the quarter with EPS of $5.81 versus $5.17 expected and revenue of $8.54 billion versus $8.09 billion, and it pays a $2.00 quarterly dividend (annualized $8.00, ~1.2% yield).
• Insider selling was notable this quarter — insiders sold 31,195 shares in total, including Director William I. Miller’s 18,107-share sale (~$10.8 million) and VP Jennifer Bush’s 4,270-share sale.

Danske Bank A S lowered its stake in Cummins Inc. (NYSE:CMI - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,109 shares of the company's stock after selling 7,751 shares during the quarter. Danske Bank A S owned about 0.11% of Cummins worth $78,665,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC lifted its holdings in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock worth $1,908,000 after purchasing an additional 18 shares during the period. Financial Consulate Inc. lifted its holdings in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company's stock worth $64,000 after purchasing an additional 18 shares during the period. Gilbert & Cook Inc. lifted its holdings in Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock worth $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC lifted its holdings in Cummins by 2.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company's stock worth $501,000 after purchasing an additional 20 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in Cummins by 2.3% in the fourth quarter. Red Door Wealth Management LLC now owns 878 shares of the company's stock worth $448,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Price Performance

Shares of Cummins stock opened at $672.51 on Friday. The company's 50-day moving average price is $581.03 and its two-hundred day moving average price is $536.06. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $92.91 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. Cummins Inc. has a 52 week low of $290.73 and a 52 week high of $674.75.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.16 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 26.03 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins's payout ratio is presently 38.99%.

Insider Activity

In other Cummins news, Director William I. Miller sold 18,107 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the sale, the director owned 34,243 shares in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Mary Bush sold 4,270 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the sale, the vice president owned 15,130 shares in the company, valued at approximately $8,849,990.90. The trade was a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMI shares. Truist Financial boosted their price target on shares of Cummins from $703.00 to $730.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. UBS Group set a $565.00 price target on shares of Cummins and gave the stock a "neutral" rating in a research report on Friday, February 6th. Citigroup boosted their price target on shares of Cummins from $630.00 to $710.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Wells Fargo & Company boosted their price target on shares of Cummins from $630.00 to $693.00 and gave the stock an "overweight" rating in a research report on Monday, April 13th. Finally, Barclays boosted their price target on shares of Cummins from $546.00 to $610.00 and gave the stock an "overweight" rating in a research report on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $600.27.

About Cummins

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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