BDF Gestion Cuts Position in Cummins Inc. (NYSE:CMI)

BDF Gestion reduced its position in shares of Cummins Inc. (NYSE:CMI) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,593 shares of the company’s stock after selling 727 shares during the period. BDF Gestion’s holdings in Cummins were worth $1,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Legacy Trust lifted its holdings in Cummins by 1.1% during the 4th quarter. Legacy Trust now owns 19,633 shares of the company’s stock worth $6,844,000 after buying an additional 211 shares in the last quarter. Field & Main Bank raised its stake in shares of Cummins by 1.5% in the fourth quarter. Field & Main Bank now owns 2,498 shares of the company’s stock valued at $871,000 after acquiring an additional 38 shares in the last quarter. Forsta AP Fonden boosted its holdings in Cummins by 44.1% in the fourth quarter. Forsta AP Fonden now owns 50,640 shares of the company’s stock valued at $17,653,000 after purchasing an additional 15,500 shares during the period. Nvest Financial LLC acquired a new position in Cummins during the 4th quarter worth $206,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Cummins by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 353,341 shares of the company’s stock worth $123,175,000 after purchasing an additional 3,220 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird increased 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. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,001 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.2 %

CMI stock opened at $354.31 on Thursday. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. 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 company has a fifty day moving average of $363.40 and a 200-day moving average of $332.55. The stock has a market capitalization of $48.60 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.73 EPS. As a group, analysts expect that Cummins Inc. will post 21.92 EPS for the current year.

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.