B. Metzler seel. Sohn & Co. Holding AG Acquires New Position in Cummins Inc. (NYSE:CMI)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,081 shares of the company's stock, valued at approximately $4,883,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in Cummins during the first quarter valued at about $949,000. Clearbridge Investments LLC bought a new stake in Cummins during the 1st quarter valued at about $236,000. Lake Street Advisors Group LLC lifted its position in Cummins by 17.4% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,306 shares of the company's stock valued at $385,000 after acquiring an additional 194 shares in the last quarter. Pitcairn Co. increased its holdings in Cummins by 12.5% in the 1st quarter. Pitcairn Co. now owns 4,402 shares of the company's stock worth $1,297,000 after buying an additional 490 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Cummins during the first quarter valued at approximately $168,000. Institutional investors own 83.46% of the company's stock.

Insider Activity at Cummins

In other 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 sale, the senior vice president now owns 77,442 shares of the company's stock, valued at approximately $23,870,722.08. This represents a 23.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sharon R. Barner sold 2,001 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares of the company's stock, valued at $7,456,419.29. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,576 shares of company stock worth $9,033,945. 0.56% of the stock is owned by corporate insiders.

Cummins Trading Down 0.3 %

CMI stock traded down $0.91 during midday trading on Wednesday, reaching $360.95. 481,409 shares of the company's stock traded hands, compared to its average volume of 1,467,508. The business has a 50-day moving average price of $332.94 and a two-hundred day moving average price of $303.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a fifty-two week low of $220.02 and a fifty-two week high of $370.21. The company has a market capitalization of $49.52 billion, a P/E ratio of 23.84, a PEG ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same period last year, the business posted $4.73 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins's dividend payout ratio (DPR) is presently 48.08%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMI. Robert W. Baird upped their price objective on Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Citigroup upped their price target on shares of Cummins from $375.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Cummins from $285.00 to $340.00 and gave the company an "underweight" rating in a report on Friday, October 11th. Evercore ISI raised shares of Cummins from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, Truist Financial increased their price target on Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $337.67.

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.