Fideuram Asset Management Ireland dac Acquires New Holdings in Cummins Inc. $CMI

Fideuram Asset Management Ireland dac acquired a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,733 shares of the company’s stock, valued at approximately $3,437,000.

A number of other large investors have also added to or reduced their stakes in the business. National Pension Service raised its holdings in Cummins by 71.2% in the 4th quarter. National Pension Service now owns 416,389 shares of the company’s stock valued at $212,546,000 after buying an additional 173,143 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in Cummins in the 4th quarter valued at approximately $1,081,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cummins by 5.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 24,950 shares of the company’s stock valued at $12,736,000 after buying an additional 1,351 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Cummins by 1.0% in the 4th quarter. Moors & Cabot Inc. now owns 3,372 shares of the company’s stock valued at $1,721,000 after buying an additional 35 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Cummins by 9.4% in the 4th quarter. Intech Investment Management LLC now owns 5,938 shares of the company’s stock valued at $3,031,000 after buying an additional 512 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nathan R. Stoner sold 607 shares of Cummins stock in a transaction on Monday, May 11th. The shares were sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president directly owned 9,447 shares of the company’s stock, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,633 shares of company stock worth $11,653,357 in the last quarter. Insiders own 0.30% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $667.47 on Friday. The company has a market cap of $92.10 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $621.63 and a 200-day moving average of $569.33.

Cummins (NYSE:CMI) last announced 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. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.96 EPS. On average, equities analysts forecast that Cummins Inc. will post 29.4 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Raymond James Financial raised their price target on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Finally, Truist Financial set a $815.00 price target on shares of Cummins in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $700.50.

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.