UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $730.85 Million Stock Position in Cummins Inc. $CMI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Cummins Inc. (NYSE:CMI) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,431,777 shares of the company’s stock after selling 64,442 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cummins were worth $730,851,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new position in shares of Cummins in the 4th quarter valued at $26,000. Activest Wealth Management raised its stake in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in Cummins during the 4th quarter worth $27,000. Ares Financial Consulting LLC acquired a new stake in Cummins during the 4th quarter worth $29,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Cummins during the 4th quarter worth $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of several research analyst reports. Raymond James Financial raised their price objective on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Robert W. Baird set a $700.00 price objective on Cummins in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their price objective on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $726.14.

Cummins Stock Performance

CMI opened at $659.77 on Friday. The business’s 50-day moving average price is $648.43 and its two-hundred day moving average price is $583.26. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The company has a market capitalization of $91.04 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 1.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

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

Cummins Announces Dividend

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

Insider Buying and Selling

In other news, VP Marvin Boakye sold 3,481 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $679.90, for a total value of $2,366,731.90. Following the completion of the transaction, the vice president owned 8,508 shares in the company, valued at $5,784,589.20. This trade represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $685.34, for a total value of $1,650,298.72. Following the completion of the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at $9,652,328.56. The trade was a 14.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,579 shares of company stock worth $9,377,684 over the last three months. Company insiders own 0.30% of the company’s stock.

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.