GAM Holding AG Invests $1.04 Million in Cummins Inc. (NYSE:CMI)

GAM Holding AG acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,980 shares of the company’s stock, valued at approximately $1,039,000.

Several other large investors also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its position in shares of Cummins by 21.6% during the 4th quarter. Venturi Wealth Management LLC now owns 5,312 shares of the company’s stock worth $1,852,000 after buying an additional 943 shares during the period. Citizens & Northern Corp acquired a new stake in shares of Cummins during the 4th quarter worth approximately $209,000. CIBC Asset Management Inc grew its position in shares of Cummins by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 23,922 shares of the company’s stock worth $8,339,000 after buying an additional 582 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Cummins by 146.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 370 shares of the company’s stock worth $129,000 after buying an additional 220 shares during the period. Finally, Catalyst Capital Advisors LLC grew its position in shares of Cummins by 20.7% during the 4th quarter. Catalyst Capital Advisors LLC now owns 10,770 shares of the company’s stock worth $3,754,000 after buying an additional 1,850 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CMI shares. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Jefferies Financial Group increased their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Finally, StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $383.08.

Cummins Price Performance

Shares of NYSE:CMI opened at $379.21 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $360.92 and its two-hundred day simple moving average is $340.50. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The stock has a market cap of $52.02 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the business earned $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.