Cummins Inc. (NYSE:CMI) Shares Purchased by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC lifted its position in Cummins Inc. (NYSE:CMIFree Report) by 80.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,318 shares of the company’s stock after purchasing an additional 1,036 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Cummins were worth $555,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CMI. Vanguard Group Inc. increased its holdings in shares of Cummins by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock worth $4,057,750,000 after buying an additional 2,055,239 shares during the last quarter. Norges Bank purchased a new stake in Cummins in the fourth quarter valued at $298,867,000. International Assets Investment Management LLC lifted its stake in shares of Cummins by 21,025.8% in the 4th quarter. International Assets Investment Management LLC now owns 735,177 shares of the company’s stock valued at $176,126,000 after purchasing an additional 731,697 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Cummins during the 3rd quarter worth $71,268,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Cummins by 88.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 584,163 shares of the company’s stock worth $133,458,000 after purchasing an additional 274,927 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other news, VP Marvin Boakye bought 1,745 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now owns 1,745 shares of the company’s stock, valued at $499,139.80. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Marvin Boakye acquired 1,745 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $286.04 per share, with a total value of $499,139.80. Following the completion of the acquisition, the vice president now owns 1,745 shares of the company’s stock, valued at $499,139.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at $5,987,628.78. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on CMI. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Citigroup increased their price target on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Evercore ISI lifted their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Finally, TD Cowen boosted their price target on shares of Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $284.36.

View Our Latest Research Report on CMI

Cummins Price Performance

Shares of NYSE CMI opened at $271.87 on Friday. The stock’s 50-day simple moving average is $288.59 and its 200-day simple moving average is $263.93. The firm has a market capitalization of $37.19 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34.

Cummins (NYSE:CMIGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. As a group, equities research analysts forecast that Cummins Inc. will post 18.84 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were given a $1.68 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a yield of 2.47%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

About Cummins

(Free Report)

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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