Natixis Has $12.15 Million Stake in Cummins Inc. (NYSE:CMI)

Natixis decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 79.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,221 shares of the company’s stock after selling 162,840 shares during the quarter. Natixis’ holdings in Cummins were worth $12,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of CMI. Brookstone Capital Management grew its position in Cummins by 15.2% in the 4th quarter. Brookstone Capital Management now owns 1,674 shares of the company’s stock valued at $401,000 after purchasing an additional 221 shares during the period. Premier Path Wealth Partners LLC acquired a new stake in Cummins in the 4th quarter valued at $265,000. Mutual Advisors LLC grew its position in Cummins by 20.3% in the 4th quarter. Mutual Advisors LLC now owns 2,117 shares of the company’s stock valued at $507,000 after purchasing an additional 357 shares during the period. Wealthsource Partners LLC grew its position in Cummins by 2.0% in the 4th quarter. Wealthsource Partners LLC now owns 3,144 shares of the company’s stock valued at $753,000 after purchasing an additional 63 shares during the period. Finally, CoreCap Advisors LLC grew its position in Cummins by 11.1% in the 4th quarter. CoreCap Advisors LLC now owns 2,623 shares of the company’s stock valued at $628,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI traded up $1.60 during midday trading on Thursday, hitting $283.17. 580,869 shares of the company’s stock were exchanged, compared to its average volume of 1,929,353. The business’s fifty day moving average price is $279.25 and its two-hundred day moving average price is $274.03. The company has a market cap of $38.73 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.79 and a beta of 0.99. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $304.24. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

Cummins (NYSE:CMI) last released its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. As a group, research analysts forecast that Cummins Inc. will post 18.61 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be given a $1.82 dividend. This is an increase from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, August 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.57%. Cummins’s payout ratio is presently 49.19%.

Insider Buying and Selling

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the transaction, the vice president now owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Marvin Boakye acquired 1,745 shares of the stock in a transaction on Monday, May 20th. The stock was bought at an average price of $286.04 per share, with a total value of $499,139.80. Following the transaction, the vice president now directly owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial dropped their price objective on Cummins from $319.00 to $315.00 and set a “hold” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group lifted their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird lowered their target price on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. TD Cowen lifted their target price on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Raymond James assumed coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $287.18.

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.