Blair William & Co. IL Has $20.31 Million Stock Holdings in Cummins Inc. $CMI

Blair William & Co. IL lifted its position in shares of Cummins Inc. (NYSE:CMI) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,090 shares of the company’s stock after purchasing an additional 3,108 shares during the quarter. Blair William & Co. IL’s holdings in Cummins were worth $20,312,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cummins by 8.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,031 shares of the company’s stock valued at $13,107,000 after buying an additional 2,417 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Cummins by 2.1% during the third quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock worth $47,268,000 after acquiring an additional 2,305 shares during the period. Bailard Inc. lifted its position in Cummins by 7.2% in the 3rd quarter. Bailard Inc. now owns 59,830 shares of the company’s stock valued at $25,270,000 after acquiring an additional 4,035 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Cummins by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after purchasing an additional 91,956 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cummins by 6.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock worth $91,054,000 after purchasing an additional 17,566 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the sale, the vice president owned 7,214 shares in the company, valued at $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the transaction, the vice president directly owned 15,130 shares of the company’s stock, valued at approximately $8,849,990.90. This trade represents a 22.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 in the last quarter. 0.41% of the stock is owned by company insiders.

Cummins Price Performance

NYSE:CMI opened at $539.59 on Monday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a market cap of $74.55 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The stock’s 50-day simple moving average is $570.78 and its 200 day simple moving average is $491.34.

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

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. Cummins’s dividend payout ratio is currently 38.99%.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent research reports. Truist Financial reissued a “buy” rating and issued a $703.00 price target (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. Robert W. Baird set a $580.00 price objective on Cummins in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Citigroup boosted their target price on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Raymond James Financial upped their price target on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Company 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.