AEGON ASSET MANAGEMENT UK Plc Has $47.90 Million Stake in Cummins Inc. (NYSE:CMI)

AEGON ASSET MANAGEMENT UK Plc reduced its position in shares of Cummins Inc. (NYSE:CMI) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,920 shares of the company’s stock after selling 4,815 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cummins were worth $47,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the second quarter valued at about $28,000. Cultivar Capital Inc. bought a new stake in Cummins in the 2nd quarter valued at about $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new position in shares of Cummins during the first quarter worth approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter valued at approximately $34,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Cummins Trading Up 0.5 %

Shares of CMI stock opened at $356.50 on Friday. Cummins Inc. has a twelve month low of $214.57 and a twelve month high of $370.21. The stock’s fifty day simple moving average is $322.99 and its 200 day simple moving average is $299.12. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $48.86 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.86 and a beta of 0.97.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm posted $4.73 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.04%. Cummins’s dividend payout ratio is 52.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CMI shares. Truist Financial increased their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $324.83.

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.