Kepler Cheuvreux Suisse SA Makes New Investment in Cummins Inc. $CMI

Kepler Cheuvreux Suisse SA acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,416 shares of the company’s stock, valued at approximately $7,869,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Drive Wealth Management LLC bought a new stake in shares of Cummins during the fourth quarter worth $274,000. Pure Financial Advisors LLC lifted its position in shares of Cummins by 17.9% during the fourth quarter. Pure Financial Advisors LLC now owns 994 shares of the company’s stock worth $508,000 after purchasing an additional 151 shares during the last quarter. Income Insurance Ltd bought a new stake in shares of Cummins during the fourth quarter worth $206,000. Bryn Mawr Trust Advisors LLC bought a new stake in shares of Cummins during the fourth quarter worth $240,000. Finally, NewEdge Wealth LLC lifted its position in shares of Cummins by 18.6% during the fourth quarter. NewEdge Wealth LLC now owns 10,755 shares of the company’s stock worth $5,490,000 after purchasing an additional 1,690 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Shares of NYSE CMI opened at $679.25 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 52 week low of $305.13 and a 52 week high of $718.08. The business’s 50 day moving average price is $586.92 and its 200 day moving average price is $543.54. The firm has a market cap of $93.73 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.71 and a beta of 1.27.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm posted $5.96 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio is currently 41.52%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Truist Financial set a $815.00 price target on Cummins in a research note on Wednesday. Barclays boosted their price target on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Raymond James Financial boosted their price target on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average price target of $649.47.

Insiders Place Their Bets

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the sale, the vice president owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director owned 34,243 shares in the company, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 33,603 shares of company stock worth $20,047,788. Corporate insiders own 0.30% of the company’s stock.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.