PFA Pension Forsikringsaktieselskab Acquires Shares of 187,880 Cummins Inc. $CMI

Key Points

• PFA Pension Forsikringsaktieselskab acquired a new stake of 187,880 shares of Cummins (NYSE:CMI) in Q4, valued at about $96.5 million, representing roughly 0.14% of the company.
• Company insiders have been net sellers recently, disposing of 31,195 shares worth about $18.4 million in the last three months (insider ownership ≈ 0.30%).
• Analysts are generally positive with a consensus rating of "Moderate Buy" and an average price target of about $600.27 (Citigroup raised its target to $710), while CMI trades near its 52‑week high with a market cap around $90.8 billion.

PFA Pension Forsikringsaktieselskab acquired a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 187,880 shares of the company's stock, valued at approximately $96,497,000. PFA Pension Forsikringsaktieselskab owned about 0.14% of Cummins at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CMI. Thompson Investment Management Inc. purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $26,000. Activest Wealth Management grew its stake in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company's stock valued at $26,000 after buying an additional 43 shares during the period. Ares Financial Consulting LLC purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $29,000. Holos Integrated Wealth LLC purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $32,000. Finally, Palouse Capital Management Inc. purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Insiders Place Their Bets

In other news, VP Amy Rochelle Davis sold 4,054 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the sale, the vice president directly owned 15,807 shares in the company, valued at approximately $8,873,101.38. This trade represents a 20.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Earl Newsome sold 1,300 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 31,195 shares of company stock worth $18,397,489. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird set a $580.00 price target on shares of Cummins in a research note on Friday, February 6th. Wall Street Zen cut shares of Cummins from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Citigroup increased their price target on shares of Cummins from $630.00 to $710.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Zacks Research cut shares of Cummins from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a "market perform" rating in a research note on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cummins has an average rating of "Moderate Buy" and a consensus price target of $600.27.

Cummins Stock Performance

Shares of CMI stock opened at $657.42 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 52 week low of $290.73 and a 52 week high of $674.75. The stock has a market capitalization of $90.83 billion, a PE ratio of 32.04, a P/E/G ratio of 2.12 and a beta of 1.14. The firm has a 50 day moving average of $581.03 and a two-hundred day moving average of $536.06.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company had revenue of $8.54 billion during the quarter, compared to analysts' expectations of $8.09 billion. During the same quarter last year, the company posted $5.16 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 26.05 EPS for the current fiscal year.

Cummins Dividend Announcement

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

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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