AEGON ASSET MANAGEMENT UK Plc Sells 26,818 Shares of Cummins Inc. $CMI

AEGON ASSET MANAGEMENT UK Plc reduced its position in Cummins Inc. (NYSE:CMI) by 12.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,385 shares of the company’s stock after selling 26,818 shares during the period. Cummins accounts for about 0.9% of AEGON ASSET MANAGEMENT UK Plc’s portfolio, making the stock its 24th largest position. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.13% of Cummins worth $77,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Cummins by 4.1% in the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Cummins by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares in the last quarter. KG&L Capital Management LLC grew its stake in Cummins by 6.1% during the 2nd quarter. KG&L Capital Management LLC now owns 4,268 shares of the company’s stock worth $1,389,000 after buying an additional 244 shares during the last quarter. Uncommon Cents Investing LLC increased its position in Cummins by 17.8% during the 2nd quarter. Uncommon Cents Investing LLC now owns 2,460 shares of the company’s stock valued at $806,000 after buying an additional 372 shares in the last quarter. Finally, Stone Summit Wealth LLC increased its position in Cummins by 2.1% during the 2nd quarter. Stone Summit Wealth LLC now owns 9,876 shares of the company’s stock valued at $3,234,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $571.34 on Monday. The firm has a market capitalization of $78.87 billion, a P/E ratio of 29.65, a PEG ratio of 2.00 and a beta of 1.12. The stock has a 50-day simple moving average of $520.97 and a two-hundred day simple moving average of $446.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $587.55.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The firm had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.86 earnings per share. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Insider Transactions at Cummins

In related news, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the sale, the chief financial officer directly owned 31,582 shares of the company’s stock, valued at approximately $14,864,384.12. This represents a 29.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the transaction, the insider directly owned 9,271 shares of the company’s stock, valued at $4,536,485.72. The trade was a 13.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,330 shares of company stock valued at $9,135,364 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James Financial upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 target price for the company in a research note on Monday, December 22nd. Barclays boosted their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $475.00 price target on shares of Cummins in a report on Friday, November 7th. Finally, UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $520.79.

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.