Sienna Gestion Has $1.49 Million Stock Holdings in Cummins Inc. $CMI

Sienna Gestion trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 32.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,923 shares of the company’s stock after selling 1,393 shares during the period. Sienna Gestion’s holdings in Cummins were worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CMI. Truvestments Capital LLC lifted its stake in shares of Cummins by 1.2% in the fourth quarter. Truvestments Capital LLC now owns 3,727 shares of the company’s stock worth $1,902,000 after acquiring an additional 45 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Cummins by 3.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 32,919 shares of the company’s stock worth $16,804,000 after acquiring an additional 1,197 shares during the period. Verition Fund Management LLC lifted its stake in shares of Cummins by 242.7% in the fourth quarter. Verition Fund Management LLC now owns 53,797 shares of the company’s stock worth $27,461,000 after acquiring an additional 38,097 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Cummins by 5.4% in the fourth quarter. Panagora Asset Management Inc. now owns 31,102 shares of the company’s stock worth $15,876,000 after acquiring an additional 1,606 shares during the period. Finally, Resources Management Corp CT ADV lifted its stake in shares of Cummins by 42.7% in the fourth quarter. Resources Management Corp CT ADV now owns 3,146 shares of the company’s stock worth $1,606,000 after acquiring an additional 941 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI opened at $679.66 on Tuesday. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The business’s 50 day moving average price is $651.02 and its two-hundred day moving average price is $585.26. The firm has a market cap of $93.79 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.

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

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s payout ratio is 41.52%.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the transaction, the insider directly owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CMI shares. Barclays lifted their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on shares of Cummins in a report on Wednesday, May 6th. Evercore restated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a report on Monday, May 11th. Argus boosted their target price on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.14.

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.