B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 15,081 Cummins Inc. (NYSE:CMI)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cummins Inc. (NYSE:CMI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,081 shares of the company’s stock, valued at approximately $4,883,000.

Other large investors also recently modified their holdings of the company. Chicago Capital LLC lifted its stake in shares of Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after acquiring an additional 30 shares during the period. Equitable Trust Co. lifted its position in Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares during the period. Atlantic Edge Private Wealth Management LLC grew its position in shares of Cummins by 0.7% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after buying an additional 35 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after acquiring an additional 38 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,001 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,576 shares of company stock worth $9,033,945. 0.56% of the stock is owned by company insiders.

Cummins Stock Performance

CMI opened at $361.73 on Wednesday. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The firm has a market capitalization of $49.62 billion, a PE ratio of 23.89, a PEG ratio of 1.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The business’s 50-day simple moving average is $331.59 and its 200 day simple moving average is $302.93.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $4.73 earnings per share. As a group, sell-side analysts expect that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.01%. Cummins’s dividend payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. raised their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $334.33.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.