Vinva Investment Management Ltd Has $1.85 Million Stake in Cummins Inc. (NYSE:CMI)

Vinva Investment Management Ltd grew its position in Cummins Inc. (NYSE:CMI) by 37.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,681 shares of the company’s stock after buying an additional 1,555 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cummins were worth $1,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMI. Chicago Capital LLC raised its position in Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. increased its stake in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Cummins by 0.7% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after buying an additional 35 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after buying an additional 38 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMI. Robert W. Baird increased their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays increased their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $337.67.

Cummins Price Performance

Cummins stock opened at $375.25 on Friday. The firm has a market cap of $51.48 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.80 and a beta of 0.97. The stock’s 50 day moving average is $342.77 and its 200 day moving average is $307.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a one year low of $223.35 and a one year high of $379.66.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the firm posted $4.73 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is 48.08%.

Insider Activity at Cummins

In other Cummins 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 value of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Corporate 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.