Cummins Inc. $CMI Shares Bought by Quantinno Capital Management LP

by · The Cerbat Gem

Quantinno Capital Management LP lifted its stake in shares of Cummins Inc. (NYSE:CMI – Free Report) by 51.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 128,675 shares of the company’s stock after acquiring an additional 43,507 shares during the period. Quantinno Capital Management LP’s holdings in Cummins were worth $42,141,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CMI. BNP Paribas increased its position in Cummins by 1.8% during the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after purchasing an additional 25 shares during the last quarter. Orca Wealth Management LLC grew its stake in shares of Cummins by 0.6% during the 2nd quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after buying an additional 28 shares during the period. V Square Quantitative Management LLC raised its position in shares of Cummins by 1.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock worth $1,076,000 after buying an additional 31 shares during the period. Empirical Finance LLC boosted its holdings in Cummins by 0.7% in the second quarter. Empirical Finance LLC now owns 4,919 shares of the company’s stock valued at $1,611,000 after acquiring an additional 32 shares during the last quarter. Finally, Van Hulzen Asset Management LLC grew its position in Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock valued at $872,000 after acquiring an additional 34 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the sale, the insider directly owned 9,271 shares in the company, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Rumsey sold 4,570 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares of the company’s stock, valued at $20,320,403.20. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,410 shares of company stock valued at $16,424,574 over the last three months. Company insiders own 0.41% of the company’s stock.

Cummins Trading Down 0.3%

NYSE CMI opened at $523.05 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. Cummins Inc. has a one year low of $260.02 and a one year high of $526.50. The company has a 50-day simple moving average of $457.93 and a 200-day simple moving average of $398.53. The firm has a market capitalization of $72.20 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.07 and a beta of 1.11.

Cummins (NYSE:CMI – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The firm had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter last year, the company posted $5.86 earnings per share. Cummins’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were given a dividend of $2.00 per share. The ex-dividend date was Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. Cummins’s payout ratio is currently 41.52%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a report on Monday. Wells Fargo & Company started coverage on Cummins in a research report on Thursday, November 13th. They set an “overweight” rating and a $599.00 price target on the stock. Truist Financial set a $628.00 price objective on shares of Cummins and gave the company a “buy” rating in a research report on Monday, November 24th. UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $482.87.

Get Our Latest Research Report on CMI

Cummins Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI – Free Report).