Banque Cantonale Vaudoise Boosts Stock Holdings in Cummins Inc. (NYSE:CMI)

Banque Cantonale Vaudoise grew its stake in Cummins Inc. (NYSE:CMI - Free Report) by 27.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,727 shares of the company's stock after acquiring an additional 3,567 shares during the period. Banque Cantonale Vaudoise's holdings in Cummins were worth $5,416,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CMI. Edgestream Partners L.P. acquired a new stake in shares of Cummins in the first quarter valued at $949,000. O Shaughnessy Asset Management LLC lifted its position in shares of Cummins by 17.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 31,769 shares of the company's stock worth $9,361,000 after purchasing an additional 4,748 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Cummins during the first quarter worth about $236,000. Lake Street Advisors Group LLC boosted its stake in shares of Cummins by 17.4% in the first quarter. Lake Street Advisors Group LLC now owns 1,306 shares of the company's stock valued at $385,000 after purchasing an additional 194 shares during the period. Finally, Pitcairn Co. grew its holdings in shares of Cummins by 12.5% in the first quarter. Pitcairn Co. now owns 4,402 shares of the company's stock valued at $1,297,000 after purchasing an additional 490 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 23.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the sale, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,576 shares of company stock worth $9,033,945 in the last quarter. Company insiders own 0.56% of the company's stock.

Cummins Stock Performance

Cummins stock traded down $2.29 during trading hours on Tuesday, reaching $361.73. 418,978 shares of the stock were exchanged, compared to its average volume of 1,471,877. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm's 50 day moving average is $330.26 and its 200 day moving average is $302.36. The stock has a market cap of $49.62 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results 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 company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter in the previous year, the firm posted $4.73 EPS. The firm's quarterly revenue was up .3% on a year-over-year basis. Analysts predict that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Announces Dividend

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 paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins's dividend payout ratio (DPR) is 48.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an "underweight" rating in a research note on Friday, October 11th. Citigroup increased their target price on shares of Cummins from $345.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Finally, Robert W. Baird boosted their target price on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $334.33.

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.