Vontobel Holding Ltd. Sells 5,358 Shares of Cummins Inc. (NYSE:CMI)

Vontobel Holding Ltd. decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,608 shares of the company's stock after selling 5,358 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cummins were worth $21,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMI. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Cummins in the fourth quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $55,000. Finally, Friedenthal Financial bought a new stake in Cummins during the fourth quarter worth $55,000. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

Shares of CMI stock traded up $3.95 on Tuesday, hitting $377.73. 310,121 shares of the stock were exchanged, compared to its average volume of 811,813. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $51.82 billion, a PE ratio of 13.41, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a one year low of $259.06 and a one year high of $387.90. The firm's 50 day moving average is $360.89 and its two-hundred day moving average is $339.87.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $4.14 EPS. Sell-side analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.93%. Cummins's dividend payout ratio is currently 25.84%.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,163 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their target price on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of "Hold" and an average price target of $383.08.

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.