Union Bancaire Privee UBP SA Has $5.26 Million Holdings in Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA decreased its position in Cummins Inc. (NYSE:CMI - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,747 shares of the company's stock after selling 827 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Cummins were worth $5,257,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMI. Norges Bank acquired a new stake in Cummins in the fourth quarter valued at approximately $499,490,000. GAMMA Investing LLC boosted its stake in shares of Cummins by 38,220.5% during the 1st quarter. GAMMA Investing LLC now owns 1,191,385 shares of the company's stock valued at $373,428,000 after buying an additional 1,188,276 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cummins during the 4th quarter valued at approximately $187,082,000. Vanguard Group Inc. boosted its stake in shares of Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after buying an additional 250,650 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Cummins by 15.1% during the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock valued at $656,418,000 after buying an additional 246,807 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CMI. UBS Group cut Cummins from a "buy" rating to a "sell" rating and reduced their target price for the company from $400.00 to $240.00 in a research note on Monday, April 7th. Evercore ISI reduced 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. Wall Street Zen cut Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Citigroup raised their price objective on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Morgan Stanley raised their price objective on Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $357.25.

Insider Buying and Selling

In related news, Director John H. Stone purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the purchase, the director now owns 2,441 shares of the company's stock, valued at $810,607.28. This trade represents a 69.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of NYSE CMI traded down $5.50 during midday trading on Friday, reaching $319.24. 358,528 shares of the company traded hands, compared to its average volume of 794,083. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The stock has a 50-day moving average price of $306.95 and a 200 day moving average price of $337.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a market cap of $43.98 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 2.19 and a beta of 1.04.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analysts' expectations of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.08 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, May 23rd. Cummins's payout ratio is currently 36.22%.

Cummins 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.