Mn Services Vermogensbeheer B.V. Has $16.08 Million Stock Position in Cummins Inc. (NYSE:CMI)

Mn Services Vermogensbeheer B.V. lowered its position in Cummins Inc. (NYSE:CMI - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,303 shares of the company's stock after selling 5,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Cummins were worth $16,080,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CMI. BankPlus Trust Department acquired a new stake in Cummins during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. raised its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 52 shares during the period. TCTC Holdings LLC bought a new stake in Cummins in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter worth $30,000. Finally, Capital A Wealth Management LLC bought a new position in Cummins during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial reduced their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and lifted their target price for the company from $410.00 to $431.00 in a research report on Tuesday, May 27th. UBS Group cut Cummins from a "buy" rating to a "sell" rating and reduced their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Robert W. Baird lowered their price target on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Evercore ISI dropped their price objective on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $357.25.

Insider Buying and Selling at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of the company's 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 transaction, the director now directly owns 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.41% of the company's stock.

Cummins Stock Performance

Shares of NYSE CMI traded down $7.59 during trading hours on Tuesday, reaching $314.72. 619,224 shares of the stock were exchanged, compared to its average volume of 792,560. The stock's fifty day simple moving average is $309.15 and its 200 day simple moving average is $336.07. The firm has a market capitalization of $43.36 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.94 and a beta of 1.04. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period in the prior year, the company posted $5.08 earnings per share. Cummins's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.31%. Cummins's payout ratio is 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.