Motley Fool Asset Management LLC Has $6.56 Million Stock Holdings in Cummins Inc. $CMI

Motley Fool Asset Management LLC grew its holdings in Cummins Inc. (NYSE:CMI) by 35.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,857 shares of the company’s stock after buying an additional 3,349 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Cummins were worth $6,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Cummins by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after buying an additional 98,544 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after buying an additional 35,286 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after buying an additional 43,722 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after buying an additional 2,434,876 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cummins in the fourth quarter valued at $863,441,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CMI. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Barclays lifted their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $565.00 to $850.00 in a research report on Monday. Finally, Argus lifted their price objective on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average price target of $726.14.

Insider Activity at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the transaction, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by company insiders.

Cummins Price Performance

Shares of CMI stock opened at $668.73 on Wednesday. The stock has a 50-day moving average price of $641.50 and a 200 day moving average price of $580.27. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The firm has a market cap of $92.28 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 1.64 and a beta of 1.23. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $5.96 EPS. Research analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s payout ratio is presently 41.52%.

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.