QV Investors Inc. Has $5.33 Million Position in Cummins Inc. (NYSE:CMI)

QV Investors Inc. cut its stake in Cummins Inc. (NYSE:CMI) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,285 shares of the company’s stock after selling 4,410 shares during the period. QV Investors Inc.’s holdings in Cummins were worth $5,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMI. Acadian Asset Management LLC lifted its holdings in shares of Cummins by 1,194.7% in the second quarter. Acadian Asset Management LLC now owns 6,098 shares of the company’s stock worth $1,688,000 after acquiring an additional 5,627 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Cummins by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 14,463 shares of the company’s stock valued at $4,005,000 after purchasing an additional 4,384 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of Cummins during the 2nd quarter worth approximately $321,000. Oppenheimer Asset Management Inc. lifted its position in shares of Cummins by 34.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,956 shares of the company’s stock valued at $819,000 after acquiring an additional 758 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Cummins by 1.3% in the second quarter. Envestnet Asset Management Inc. now owns 640,999 shares of the company’s stock worth $177,512,000 after purchasing an additional 8,082 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 6,489 shares of company stock valued at $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of Cummins stock traded up $3.56 during trading on Monday, hitting $358.44. The stock had a trading volume of 285,018 shares, compared to its average volume of 529,515. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The firm has a market cap of $49.17 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.80 and a beta of 1.01. The business’s 50-day moving average is $361.92 and its 200 day moving average is $325.03.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company posted $4.73 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.03%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMI. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup upped their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $363.50.

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.