13,268 Shares in Cummins Inc. (NYSE:CMI) Purchased by Sapient Capital LLC

Sapient Capital LLC bought a new position in Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 13,268 shares of the company's stock, valued at approximately $3,179,000.

Several other hedge funds have also added to or reduced their stakes in CMI. Bison Wealth LLC boosted its holdings in Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company's stock valued at $293,000 after acquiring an additional 42 shares during the period. KB Financial Partners LLC grew its holdings in shares of Cummins by 1.3% in the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company's stock worth $819,000 after purchasing an additional 45 shares during the last quarter. Edmp Inc. increased its stake in shares of Cummins by 0.8% in the fourth quarter. Edmp Inc. now owns 5,560 shares of the company's stock worth $1,332,000 after buying an additional 46 shares during the period. Ledge Wealth Management Inc. raised its holdings in Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company's stock valued at $2,165,000 after buying an additional 48 shares during the last quarter. Finally, Peloton Wealth Strategists boosted its position in Cummins by 0.4% during the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company's stock valued at $3,227,000 after buying an additional 50 shares during the period. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP Sharon R. Barner sold 11,000 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares of the company's stock, valued at $4,685,847.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the completion of the sale, the chief executive officer now owns 2,698 shares of the company's stock, valued at $720,123.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Insiders own 0.56% of the company's stock.

Cummins Stock Up 0.2 %

Shares of NYSE CMI traded up $0.45 on Friday, reaching $280.74. 1,058,929 shares of the company's stock traded hands, compared to its average volume of 954,800. The company has a quick ratio of 0.74, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The business's 50 day simple moving average is $285.39 and its two-hundred day simple moving average is $252.55. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The company had revenue of $8.54 billion for the quarter, compared to analysts' expectations of $8.10 billion. During the same quarter in the previous year, the firm posted $4.52 EPS. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts forecast that Cummins Inc. will post 18.34 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. Cummins's dividend payout ratio is currently 49.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMI shares. Evercore ISI upped their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. UBS Group upgraded Cummins from a "neutral" rating to a "buy" rating and upped their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. The Goldman Sachs Group lifted their price target on shares of Cummins from $270.00 to $306.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Bank of America cut shares of Cummins from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $282.55.

Cummins 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.