Cummins Inc. (NYSE:CMI) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,229 shares of the company's stock after selling 48,751 shares during the quarter. Nordea Investment Management AB owned about 0.58% of Cummins worth $278,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Chicago Capital LLC boosted its holdings in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock worth $1,065,000 after acquiring an additional 30 shares in the last quarter. Equitable Trust Co. boosted its holdings in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company's stock worth $298,000 after acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock worth $520,000 after acquiring an additional 35 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock worth $340,000 after acquiring an additional 38 shares in the last quarter. Finally, Shepherd Financial Partners LLC boosted its holdings in Cummins by 2.3% in the third quarter. Shepherd Financial Partners LLC now owns 1,819 shares of the company's stock worth $589,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Trading Up 1.0 %

NYSE CMI traded up $3.40 on Monday, reaching $357.75. 586,998 shares of the company were exchanged, compared to its average volume of 579,966. The business's fifty day moving average price is $359.17 and its 200 day moving average price is $322.30. The stock has a market capitalization of $49.08 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business earned $4.73 earnings per share. The company's revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.03%. Cummins's dividend payout ratio is presently 48.08%.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. StockNews.com upgraded Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cummins presently has an average rating of "Hold" and an average target price of $356.92.

Cummins 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.