Cummins Inc. (NYSE:CMI) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in shares of Cummins Inc. (NYSE:CMI) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 353,341 shares of the company’s stock after purchasing an additional 3,220 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Cummins were worth $123,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. PFG Investments LLC raised its position in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the last quarter. Mariner Investment Group LLC acquired a new position in shares of Cummins during the 4th quarter worth about $1,046,000. CWM LLC raised its position in shares of Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Cummins during the 3rd quarter worth about $748,000. Finally, Franklin Resources Inc. grew its stake in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after acquiring an additional 99,464 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMI. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird increased their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

Cummins Stock Performance

NYSE:CMI opened at $350.59 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a market capitalization of $48.09 billion, a P/E ratio of 23.16, a PEG ratio of 1.69 and a beta of 1.01. The company has a 50 day moving average price of $363.40 and a 200 day moving average price of $332.55. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last released its earnings results 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 company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $4.73 EPS. Equities research analysts forecast that Cummins Inc. will post 21.92 EPS for the current year.

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.