Sivia Capital Partners LLC Invests $328,000 in Cummins Inc. (NYSE:CMI)

Sivia Capital Partners LLC purchased a new position in Cummins Inc. (NYSE:CMI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,048 shares of the company's stock, valued at approximately $328,000.

A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its stake in Cummins by 5.7% during the 4th quarter. FMR LLC now owns 1,242,362 shares of the company's stock valued at $433,087,000 after acquiring an additional 67,266 shares during the period. Fayez Sarofim & Co lifted its position in Cummins by 72.3% during the fourth quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock valued at $2,857,000 after purchasing an additional 3,440 shares during the period. National Bank of Canada FI boosted its holdings in Cummins by 4.2% in the fourth quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after purchasing an additional 3,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cummins by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock worth $54,876,000 after purchasing an additional 6,107 shares during the period. Finally, Heritage Trust Co bought a new stake in Cummins in the 4th quarter worth approximately $1,422,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Up 1.1%

CMI stock opened at $326.74 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. The business has a 50 day simple moving average of $304.31 and a two-hundred day simple moving average of $338.16. The company has a market capitalization of $45.01 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.19 and a beta of 1.04.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.08 earnings per share. Research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.23%. Cummins's dividend payout ratio (DPR) is 36.22%.

Insider Buying and Selling

In other Cummins news, Director John H. Stone purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the purchase, the director now directly owns 2,441 shares in the company, valued at $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Evercore ISI decreased their price target on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. The Goldman Sachs Group raised shares of Cummins from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $410.00 to $431.00 in a research report on Tuesday, May 27th. Citigroup upped their price objective on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $357.25.

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.

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