Temasek Holdings Private Ltd Raises Position in Cummins Inc. (NYSE:CMI)

Temasek Holdings Private Ltd raised its position in Cummins Inc. (NYSE:CMI - Free Report) by 212.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,010 shares of the company's stock after purchasing an additional 21,775 shares during the quarter. Temasek Holdings Private Ltd's holdings in Cummins were worth $11,159,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Texas Bank & Trust Co bought a new position in shares of Cummins in the 4th quarter valued at about $278,000. Toronto Dominion Bank grew its holdings in shares of Cummins by 17.0% in the 4th quarter. Toronto Dominion Bank now owns 69,814 shares of the company's stock valued at $24,336,000 after acquiring an additional 10,133 shares in the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Cummins by 9.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,433 shares of the company's stock valued at $1,545,000 after acquiring an additional 398 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Cummins by 54.3% in the 4th quarter. Shell Asset Management Co. now owns 5,187 shares of the company's stock valued at $1,808,000 after acquiring an additional 1,826 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Cummins by 3.7% during the fourth quarter. Royal Bank of Canada now owns 1,271,279 shares of the company's stock worth $443,169,000 after purchasing an additional 44,907 shares during the period. Institutional investors own 83.46% of the company's stock.

Insider Transactions at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of Cummins stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the purchase, the director now owns 2,441 shares of the company's stock, valued at approximately $810,607.28. This represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Robert W. Baird dropped their price target on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and dropped their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Truist Financial lowered their price objective on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $352.17.

Cummins Stock Down 2.5%

Shares of CMI traded down $8.28 on Wednesday, reaching $323.27. The company's stock had a trading volume of 487,229 shares, compared to its average volume of 805,868. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The stock has a market capitalization of $44.53 billion, a PE ratio of 11.48, a PEG ratio of 2.19 and a beta of 1.02. The firm has a fifty day moving average of $304.55 and a 200-day moving average of $341.51.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the prior year, the business posted $5.08 EPS. The firm's revenue was down 2.7% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.25%. Cummins's payout ratio is currently 36.22%.

Cummins Company Profile

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.