Knights of Columbus Asset Advisors LLC Has $5.09 Million Stake in Cummins Inc. (NYSE:CMI)

Knights of Columbus Asset Advisors LLC grew its position in Cummins Inc. (NYSE:CMI) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,257 shares of the company’s stock after purchasing an additional 274 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Cummins were worth $5,093,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after purchasing an additional 2,055,239 shares in the last quarter. State Street Corp raised its holdings in shares of Cummins by 3.0% during the 1st quarter. State Street Corp now owns 6,482,278 shares of the company’s stock worth $1,548,473,000 after buying an additional 191,776 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cummins by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock worth $486,142,000 after buying an additional 173,139 shares during the last quarter. Morgan Stanley boosted its stake in Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after buying an additional 50,476 shares in the last quarter. Finally, Northern Trust Corp grew its position in Cummins by 4.0% in the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after acquiring an additional 69,830 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $287.56 on Friday. The firm’s fifty day simple moving average is $280.26 and its two-hundred day simple moving average is $248.36. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $39.33 billion, a P/E ratio of 55.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the prior year, the business earned $4.52 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts predict that Cummins Inc. will post 18.27 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 129.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley assumed coverage on shares of Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price on the stock. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, Truist Financial started coverage on Cummins in a research report on Thursday, March 14th. They issued a “hold” rating and a $303.00 target price for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $279.70.

Insider Activity

In related news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the sale, the chief executive officer now owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. Company insiders own 0.56% of the company’s stock.

About Cummins

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.