Lbp Am Sa Trims Holdings in Cummins Inc. $CMI

Key Points

• Lbp Am Sa reduced its stake by 14.6% in Cummins in Q4, selling 2,137 shares and now holding 12,475 shares valued at about $6.37 million.
• Insiders sold 31,195 shares worth $18.4 million over the past 90 days (notably VP Donald Jackson and Director William I. Miller), leaving insiders with just 0.30% ownership.
• Cummins beat quarterly estimates (EPS $5.81 vs. $5.17; revenue $8.54B), pays a $2.00 quarterly dividend (1.3% yield), and carries a consensus analyst rating of "Moderate Buy" with a target around $598.47.

Lbp Am Sa reduced its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,475 shares of the company's stock after selling 2,137 shares during the quarter. Lbp Am Sa's holdings in Cummins were worth $6,368,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Thompson Investment Management Inc. purchased a new position in Cummins in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Cummins in the 3rd quarter valued at about $28,000. Osterweis Capital Management Inc. bought a new position in Cummins in the 2nd quarter worth about $31,000. Holos Integrated Wealth LLC bought a new position in Cummins in the 4th quarter worth about $32,000. Finally, Palouse Capital Management Inc. purchased a new position in shares of Cummins during the fourth quarter worth approximately $33,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the business's 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 directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William I. Miller sold 18,107 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the sale, the director directly owned 34,243 shares of the company's stock, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,195 shares of company stock worth $18,397,489 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Cummins Price Performance

Shares of CMI opened at $608.50 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The company has a 50 day moving average price of $570.32 and a 200-day moving average price of $520.85. Cummins Inc. has a fifty-two week low of $269.24 and a fifty-two week high of $620.78. The stock has a market capitalization of $84.07 billion, a PE ratio of 29.65, a PEG ratio of 1.90 and a beta of 1.14.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping analysts' consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. Cummins'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 firm posted $5.16 earnings per share. Equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, February 20th. Cummins's payout ratio is presently 38.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group set a $565.00 price target on Cummins and gave the company a "neutral" rating in a report on Friday, February 6th. Wells Fargo & Company raised their price objective on Cummins from $630.00 to $693.00 and gave the stock an "overweight" rating in a report on Monday. Wolfe Research lowered Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 target price for the company. in a research report on Monday, January 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cummins in a report on Friday, April 10th. Finally, Truist Financial reissued a "buy" rating and set a $703.00 price target (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $598.47.

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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