Wynn Capital LLC Acquires Shares of 2,355 Cummins Inc. (NYSE:CMI)

Wynn Capital LLC bought a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,355 shares of the company’s stock, valued at approximately $564,000.

A number of other hedge funds have also recently modified their holdings of CMI. Vanguard Group Inc. lifted its holdings in Cummins by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after purchasing an additional 2,055,239 shares in the last quarter. Morgan Stanley boosted its position in Cummins by 2.7% during the 3rd quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock worth $433,799,000 after acquiring an additional 50,476 shares during the period. Northern Trust Corp lifted its holdings in shares of Cummins by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after buying an additional 69,830 shares during the last quarter. Stifel Financial Corp increased its position in Cummins by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock worth $365,430,000 after buying an additional 13,634 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Cummins by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock valued at $244,710,000 after buying an additional 235,372 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.1 %

Shares of CMI stock traded down $0.28 during trading hours on Wednesday, hitting $292.42. 760,636 shares of the company’s stock traded hands, compared to its average volume of 2,740,257. The stock’s fifty day simple moving average is $281.69 and its two-hundred day simple moving average is $249.59. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 56.60, a PEG ratio of 1.97 and a beta of 1.04. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business 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 business posted $4.52 earnings per share. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is 129.73%.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction dated 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 directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMI shares. Evercore ISI upped their price objective on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. increased their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. TD Cowen increased their price objective on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $279.70.

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.