Cummins Inc. (NYSE:CMI) Shares Sold by Man Group plc

Man Group plc trimmed its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,244 shares of the company's stock after selling 84,885 shares during the quarter. Man Group plc owned 0.09% of Cummins worth $44,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc acquired a new position in Cummins during the 4th quarter worth $27,000. Meeder Asset Management Inc. grew its stake in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in Cummins during the 4th quarter worth $28,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group cut Cummins from a "buy" rating to a "sell" rating and lowered their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Citigroup upped their price objective on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Robert W. Baird lowered their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Evercore ISI upped their price objective on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $354.83.

Insiders Place Their Bets

In related news, Director John H. Stone acquired 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $332.08 per share, with a total value of $332,080.00. Following the transaction, the director now owns 2,441 shares of the company's stock, valued at $810,607.28. The trade was a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

Cummins Stock Performance

Shares of NYSE CMI traded up $2.67 during trading hours on Friday, reaching $334.78. The stock had a trading volume of 782,982 shares, compared to its average volume of 806,851. The firm has a market cap of $46.12 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.19 and a beta of 1.02. 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 fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a 50-day moving average of $304.05 and a 200-day moving average of $341.44.

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

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.17%. 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.