Fieldview Capital Management LLC Has $411,000 Stock Holdings in Cummins Inc. $CMI

Key Points

• Fieldview Capital Management reduced its Cummins stake by 65.8% in the fourth quarter, selling 1,550 shares and ending with 806 shares valued at about $411,000.
• Despite that selling, Cummins continues to draw strong analyst support, with firms like Citigroup, Wells Fargo, UBS and Raymond James raising price targets; the stock now has a consensus Moderate Buy rating and an average target of $726.14.
• Cummins reported better-than-expected quarterly results, posting $6.15 EPS on $8.40 billion in revenue, and it also paid a quarterly dividend of $2.00 per share, or $8.00 annualized.

Fieldview Capital Management LLC cut its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 65.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806 shares of the company's stock after selling 1,550 shares during the period. Fieldview Capital Management LLC's holdings in Cummins were worth $411,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of Cummins during the fourth quarter worth approximately $26,000. Activest Wealth Management boosted its holdings in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company's stock worth $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. Ares Financial Consulting LLC bought a new stake in shares of Cummins during the fourth quarter worth approximately $29,000. Finally, Holos Integrated Wealth LLC bought a new stake in shares of Cummins during the fourth quarter worth approximately $32,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Cummins from $710.00 to $770.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on Cummins from $693.00 to $794.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Raymond James Financial increased their target price on shares of Cummins from $675.00 to $745.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 26th. UBS Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and increased their target price for the stock from $565.00 to $850.00 in a research report on Monday, June 8th. Finally, Wall Street Zen lowered shares of Cummins from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $726.14.

Cummins Stock Performance

NYSE CMI opened at $679.66 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $93.79 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 1.61 and a beta of 1.24. The firm's 50 day simple moving average is $651.02 and its 200 day simple moving average is $585.26. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $5.96 EPS. As a group, research analysts expect that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $2.00 per share. The ex-dividend date was Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. Cummins's dividend payout ratio (DPR) is currently 41.52%.

Insider Buying and Selling at Cummins

In related news, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nathan R. Stoner sold 607 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the sale, the vice president owned 9,447 shares in the company, valued at $6,556,784.82. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last three months. Company insiders own 0.30% of the company's stock.

About Cummins

Cummins Inc NYSE: CMI is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world's leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company's product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

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