Boston Common Asset Management LLC Sells 1,615 Shares of Cummins Inc. $CMI

Boston Common Asset Management LLC cut its position in shares of Cummins Inc. (NYSE:CMI) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,652 shares of the company’s stock after selling 1,615 shares during the quarter. Boston Common Asset Management LLC’s holdings in Cummins were worth $10,542,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CMI. Gilbert & Cook Inc. lifted its position in Cummins by 1.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after buying an additional 19 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its position in Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock valued at $501,000 after acquiring an additional 20 shares during the last quarter. United Capital Management of KS Inc. raised its stake in shares of Cummins by 2.0% during the third quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock worth $485,000 after acquiring an additional 22 shares in the last quarter. Betterment LLC raised its stake in shares of Cummins by 3.5% during the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after acquiring an additional 23 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its holdings 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 worth $2,499,000 after acquiring an additional 24 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 2.3%

Shares of CMI opened at $511.22 on Tuesday. The stock has a market capitalization of $70.63 billion, a P/E ratio of 24.91, a PEG ratio of 1.66 and a beta of 1.12. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $569.65 and a two-hundred day simple moving average of $507.34.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. 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. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $600.00 price objective on Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average target price of $588.93.

Insider Activity

In other Cummins news, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction on 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 transaction, the vice president directly owned 15,130 shares of the company’s stock, valued at approximately $8,849,990.90. The trade was a 22.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Earl Newsome sold 1,300 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction 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 approximately $1,978,057.63. This represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is owned by insiders.

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.