MASTERINVEST Kapitalanlage GmbH Acquires Shares of 6,582 Cummins Inc. $CMI

MASTERINVEST Kapitalanlage GmbH bought a new position in Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,582 shares of the company’s stock, valued at approximately $2,156,000.

Other institutional investors have also made changes to their positions in the company. Accredited Wealth Management LLC bought a new position in Cummins during the first quarter worth $31,000. Osterweis Capital Management Inc. acquired a new stake in shares of Cummins during the second quarter worth $31,000. Wealth Preservation Advisors LLC bought a new position in shares of Cummins in the 1st quarter worth about $41,000. CNB Bank acquired a new position in shares of Cummins in the 2nd quarter valued at about $43,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Cummins in the 1st quarter valued at about $47,000. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CMI shares. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a research report on Monday, December 8th. JPMorgan Chase & Co. raised their price target on Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Barclays upped their price objective on Cummins from $430.00 to $515.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Truist Financial set a $628.00 target price on Cummins and gave the company a “buy” rating in a research note on Monday, November 24th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $482.87.

Cummins Stock Performance

Shares of CMI stock opened at $510.11 on Friday. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $526.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a market capitalization of $70.42 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. The business has a 50 day simple moving average of $459.47 and a 200 day simple moving average of $400.39.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The firm had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. During the same quarter in the previous year, the business earned $5.86 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS 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 issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.6%. Cummins’s dividend payout ratio is presently 41.52%.

Insider Activity at Cummins

In other news, CEO Jennifer Rumsey sold 4,570 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total value of $2,165,677.30. Following the completion of the sale, the chief executive officer directly owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the transaction, the insider owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,410 shares of company stock worth $16,424,574 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Cummins Company Profile

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.