BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 57,628 Shares of Cummins Inc. $CMI

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in Cummins Inc. (NYSE:CMI) by 35.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,105 shares of the company’s stock after selling 57,628 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.08% of Cummins worth $44,805,000 as of its most recent SEC filing.

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

Insider Activity at Cummins

In other news, insider Brett Michael Merritt sold 1,450 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the transaction, the insider owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This trade represents a 34.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by insiders.

Cummins Stock Up 0.5%

NYSE CMI opened at $595.95 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company has a market cap of $82.34 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.87 and a beta of 1.13. The company has a 50 day moving average of $556.56 and a 200-day moving average of $475.71. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $5.16 EPS. On average, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 20th. Cummins’s payout ratio is currently 38.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMI. JPMorgan Chase & Co. boosted their target price on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. UBS Group set a $565.00 target price on shares of Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $580.00 price target on shares of Cummins in a research note on Friday, February 6th. Eleven 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, Cummins has a consensus rating of “Moderate Buy” and an average target price of $588.93.

About Cummins

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.