Cummins Inc. $CMI Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. grew its stake in Cummins Inc. (NYSE:CMI) by 6.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 81,248 shares of the company’s stock after buying an additional 5,048 shares during the quarter. APG Asset Management N.V. owned 0.06% of Cummins worth $34,317,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. grew its stake in shares of Cummins by 0.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock worth $2,499,000 after purchasing an additional 24 shares in the last quarter. Whittier Trust Co. raised its stake in Cummins by 0.9% in the third quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock valued at $1,154,000 after buying an additional 24 shares in the last quarter. Howard Capital Management Inc. lifted its holdings in Cummins by 2.9% during the 3rd quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock worth $365,000 after buying an additional 24 shares during the last quarter. BNP Paribas boosted its position in shares of Cummins by 1.8% during the 2nd quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after acquiring an additional 25 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its holdings in shares of Cummins by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 845 shares of the company’s stock valued at $357,000 after acquiring an additional 26 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

Cummins stock opened at $584.37 on Monday. The business has a 50 day simple moving average of $566.52 and a 200-day simple moving average of $485.66. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. 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 1.12.

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

Cummins Announces Dividend

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

Insider Buying and Selling

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Earl Newsome sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares of the company’s stock, valued at $1,978,057.63. This represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,141 shares of company stock worth $16,121,817 in the last three months. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CMI. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Truist Financial restated a “buy” rating and issued a $703.00 target price (up from $653.00) on shares of Cummins in a report on Friday, February 6th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Barclays upped their price objective on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

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.