Banque Cantonale Vaudoise Acquires 3,567 Shares of Cummins Inc. (NYSE:CMI)

Banque Cantonale Vaudoise grew its position in shares of Cummins Inc. (NYSE:CMI) by 27.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 16,727 shares of the company’s stock after acquiring an additional 3,567 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Cummins were worth $5,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cultivar Capital Inc. bought a new position in shares of Cummins during the 2nd quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins during the 2nd quarter valued at approximately $28,000. Lynx Investment Advisory bought a new position in shares of Cummins during the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new position in shares of Cummins during the 1st quarter valued at approximately $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins during the 3rd quarter valued at approximately $34,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $364.08 on Tuesday. The firm has a market cap of $49.94 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.77 and a beta of 0.97. 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 12 month low of $220.02 and a 12 month high of $370.21. The stock’s fifty day moving average price is $330.26 and its 200-day moving average price is $302.36.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm 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 business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $4.73 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.00%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on CMI shares. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded 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 research report on Wednesday, November 13th. Barclays raised their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Citigroup raised their price target on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $334.33.

Insider Buying and Selling at Cummins

In other Cummins news, 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 value of $784,065.87. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins 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 completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,576 shares of company stock worth $9,033,945 over the last quarter. Insiders own 0.56% of the company’s stock.

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.