Epoch Investment Partners Inc. Sells 18,672 Shares of Cummins Inc. (NYSE:CMI)

Epoch Investment Partners Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 362,001 shares of the company’s stock after selling 18,672 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Cummins were worth $100,249,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Cummins by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after purchasing an additional 604,735 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 4.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,587,895 shares of the company’s stock worth $619,982,000 after purchasing an additional 103,018 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cummins by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after acquiring an additional 26,977 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Cummins by 4.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,398,061 shares of the company’s stock worth $334,933,000 after acquiring an additional 64,365 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Cummins by 5.6% during the 1st quarter. Nordea Investment Management AB now owns 911,720 shares of the company’s stock worth $268,492,000 after acquiring an additional 48,211 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $308.24 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The company has a market capitalization of $42.16 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. The company’s 50 day moving average price is $297.72 and its two-hundred day moving average price is $288.34. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $322.83.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $5.18 EPS. On average, analysts expect that Cummins Inc. will post 19.66 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd were paid a dividend of $1.82 per share. This is a boost from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, August 23rd. Cummins’s dividend payout ratio (DPR) is currently 53.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Raymond James assumed coverage on shares of Cummins in a report on Friday, June 28th. They set a “market perform” rating on the stock. Barclays increased their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial increased their price objective on shares of Cummins from $315.00 to $349.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Robert W. Baird increased their price objective on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $299.55.

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.