B. Metzler seel. Sohn & Co. Holding AG Invests $4.88 Million in Cummins Inc. (NYSE:CMI)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,081 shares of the company’s stock, valued at approximately $4,883,000.

A number of other large investors have also added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins during the 2nd quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in Cummins during the second quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in Cummins during the second quarter worth about $29,000. LRI Investments LLC bought a new position in Cummins in the 1st quarter valued at about $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,163 shares of the 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 sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,576 shares of company stock valued at $9,033,945. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CMI has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays boosted their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted 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. Finally, Truist Financial increased their target price on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $334.33.

Cummins Trading Down 0.6 %

Shares of NYSE CMI opened at $361.73 on Wednesday. The firm has a 50 day moving average price of $331.59 and a two-hundred day moving average price of $302.93. The stock has a market cap of $49.62 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last posted 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 business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $4.73 earnings per share. As a group, equities analysts forecast that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is presently 48.08%.

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.