Sanctuary Advisors LLC increased its position in Cummins Inc. (NYSE:CMI - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,747 shares of the company's stock after purchasing an additional 9,073 shares during the quarter. Sanctuary Advisors LLC's holdings in Cummins were worth $23,352,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in Cummins in the fourth quarter worth approximately $26,000. Holos Integrated Wealth LLC bought a new position in Cummins in the fourth quarter worth approximately $32,000. Palouse Capital Management Inc. bought a new position in Cummins in the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC bought a new position in Cummins in the third quarter worth approximately $28,000. Finally, Olistico Wealth LLC bought a new position in Cummins in the fourth quarter worth approximately $39,000. Institutional investors own 83.46% of the company's stock.
Wall Street Analyst Weigh In
CMI has been the topic of several research analyst reports. Argus set a $696.00 price objective on Cummins in a research note on Tuesday, February 10th. Wall Street Zen lowered Cummins from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. Wells Fargo & Company upped their target price on Cummins from $630.00 to $693.00 and gave the stock an "overweight" rating in a report on Monday, April 13th. JPMorgan Chase & Co. upped their target price on Cummins from $485.00 to $580.00 and gave the stock a "neutral" rating in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cummins in a report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $600.27.
Read Our Latest Research Report on CMI
Cummins Stock Performance
Shares of CMI opened at $660.83 on Monday. Cummins Inc. has a 12 month low of $284.23 and a 12 month high of $663.38. The stock has a fifty day moving average price of $576.44 and a 200-day moving average price of $531.12. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $91.30 billion, a PE ratio of 32.20, a P/E/G ratio of 2.09 and a beta of 1.14.
Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the business posted $5.16 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 26.03 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins's dividend payout ratio is currently 38.99%.
Insider Activity
In related news, VP Earl Newsome sold 1,300 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. This trade represents a 27.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president owned 15,807 shares of the company's stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,195 shares of company stock worth $18,397,489. Company insiders own 0.30% of the company's stock.
About Cummins
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Free Report)
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.
See Also
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