AEGON ASSET MANAGEMENT UK Plc Buys 63,872 Shares of Cummins Inc. (NYSE:CMI)

AEGON ASSET MANAGEMENT UK Plc increased its stake in Cummins Inc. (NYSE:CMI) by 43.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 211,792 shares of the company’s stock after purchasing an additional 63,872 shares during the quarter. Cummins makes up approximately 1.0% of AEGON ASSET MANAGEMENT UK Plc’s portfolio, making the stock its 24th biggest holding. AEGON ASSET MANAGEMENT UK Plc owned 0.15% of Cummins worth $73,832,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC increased its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Chicago Capital LLC grew its stake in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. raised its holdings in Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares in the last quarter. Finally, Bangor Savings Bank boosted its holdings in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 6,489 shares of company stock worth $2,357,531 over the last ninety days. Insiders own 0.56% of the company’s stock.

Cummins Stock Down 0.4 %

Shares of NYSE:CMI opened at $367.45 on Friday. The firm has a market capitalization of $50.41 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. 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 Inc. has a 52-week low of $236.00 and a 52-week high of $387.90. The firm has a fifty day moving average of $363.94 and a 200 day moving average of $330.77.

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

Wall Street Analyst Weigh In

CMI has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cummins currently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

About Cummins

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.