Epoch Investment Partners Inc. Has $100.25 Million Position in Cummins Inc. (NYSE:CMI)

Epoch Investment Partners Inc. reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 362,001 shares of the company’s stock after selling 18,672 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.26% of Cummins worth $100,249,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Cummins by 0.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after purchasing an additional 35 shares during the period. Greenleaf Trust raised its position in Cummins by 0.5% during the first quarter. Greenleaf Trust now owns 7,720 shares of the company’s stock valued at $2,275,000 after acquiring an additional 40 shares in the last quarter. Bangor Savings Bank raised its position in Cummins by 39.2% during the second quarter. Bangor Savings Bank now owns 142 shares of the company’s stock valued at $39,000 after acquiring an additional 40 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Cummins by 2.6% during the second quarter. Aptus Capital Advisors LLC now owns 1,636 shares of the company’s stock valued at $453,000 after acquiring an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in Cummins by 2.6% during the second quarter. Harbour Investments Inc. now owns 1,681 shares of the company’s stock valued at $466,000 after acquiring an additional 42 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Cummins Trading Down 0.3 %

Shares of CMI stock opened at $308.24 on Friday. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $322.83. The firm’s fifty day simple moving average is $297.72 and its 200 day simple moving average is $288.34. The firm 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 has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the firm posted $5.18 earnings per share. Cummins’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins Inc. will post 19.66 EPS for the current year.

Cummins Increases Dividend

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

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. Truist Financial raised their price objective on shares of Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Robert W. Baird lifted their price target on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI lifted their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Citigroup assumed coverage on shares of Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Barclays lifted their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.