Cummins Inc. $CMI Shares Sold by Regents Gate Capital LLP

Regents Gate Capital LLP reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 83.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,062 shares of the company’s stock after selling 31,348 shares during the quarter. Regents Gate Capital LLP’s holdings in Cummins were worth $2,560,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CMI. Flagship Wealth Advisors LLC acquired a new position in Cummins in the third quarter valued at approximately $28,000. Osterweis Capital Management Inc. purchased a new stake in shares of Cummins during the 2nd quarter worth approximately $31,000. Guerra Advisors Inc acquired a new position in shares of Cummins in the 3rd quarter valued at $36,000. Salomon & Ludwin LLC grew its position in shares of Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the last quarter. Finally, Tripletail Wealth Management LLC acquired a new stake in Cummins during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were 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 $20,446,495.30. This trade represents a 34.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president owned 15,130 shares in the company, valued at $8,849,990.90. The trade was a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,141 shares of company stock worth $16,121,817 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research analyst reports. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research note on Friday, February 6th. Wall Street Zen raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Saturday. Truist Financial restated a “buy” rating and set a $703.00 price target (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. JPMorgan Chase & Co. lifted their price target on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $588.93.

Cummins Stock Performance

Shares of CMI stock opened at $584.37 on Monday. The stock’s 50-day moving average price is $566.52 and its 200 day moving average price is $485.66. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $80.74 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.85 and a beta of 1.13. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $5.16 EPS. As a group, equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s payout ratio is currently 38.99%.

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.