AEGON ASSET MANAGEMENT UK Plc Cuts Stock Position in Cummins Inc. (NYSE:CMI)

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,920 shares of the company's stock after selling 4,815 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.11% of Cummins worth $47,900,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CMI. Pathway Financial Advisers LLC increased its holdings in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock valued at $315,616,000 after purchasing an additional 972,247 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company's stock valued at $2,342,001,000 after purchasing an additional 604,735 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Cummins in the 2nd quarter worth $68,018,000. Finally, SG Americas Securities LLC increased its holdings in Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company's stock worth $54,574,000 after acquiring an additional 179,346 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Up 0.5 %

Shares of CMI stock traded up $1.74 on Friday, hitting $356.46. 735,636 shares of the stock traded hands, compared to its average volume of 637,231. The firm's 50-day moving average price is $322.99 and its two-hundred day moving average price is $299.12. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $48.90 billion, a PE ratio of 23.54, a PEG ratio of 2.01 and a beta of 0.97. Cummins Inc. has a twelve month low of $214.57 and a twelve month high of $370.21.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for 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 was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.73 EPS. As a group, analysts anticipate that Cummins Inc. will post 20.17 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.04%. Cummins's payout ratio is 48.08%.

Wall Street Analyst Weigh In

CMI has been the subject of several recent analyst reports. Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Truist Financial boosted their price target on shares of Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price target on shares of Cummins from $290.00 to $294.00 and gave the stock an "in-line" rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cummins has an average rating of "Hold" and an average price target of $324.83.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares of the company's stock, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares of the company's stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

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.