Groupama Asset Managment Takes Position in Cummins Inc. $CMI

Groupama Asset Managment acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,764 shares of the company’s stock, valued at approximately $1,167,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMI. Flagship Wealth Advisors LLC purchased a new position in Cummins in the third quarter valued at $28,000. Osterweis Capital Management Inc. purchased a new stake in Cummins during the 2nd quarter worth about $31,000. Guerra Advisors Inc acquired a new position in shares of Cummins during the 3rd quarter worth about $36,000. Salomon & Ludwin LLC boosted its position in shares of Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Cummins in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $532.73 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The firm has a 50-day simple moving average of $573.85 and a 200-day simple moving average of $500.13. The company has a market capitalization of $73.60 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the business earned $5.16 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

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

Insider Buying and Selling at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction that occurred 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 $8,849,990.90. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Raymond James Financial increased their price target on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective on the stock. in a report on Monday, January 26th. Wells Fargo & Company boosted their price objective on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and a consensus 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.