32,094 Shares in Cummins Inc. (NYSE:CMI) Acquired by Two Point Capital Management Inc.

Two Point Capital Management Inc. purchased a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,094 shares of the company’s stock, valued at approximately $7,689,000. Cummins accounts for 3.5% of Two Point Capital Management Inc.’s portfolio, making the stock its 14th biggest holding.

A number of other large investors have also made changes to their positions in CMI. Vanguard Group Inc. raised its holdings in shares of Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after acquiring an additional 2,055,239 shares during the period. International Assets Investment Management LLC increased its stake in Cummins by 21,025.8% in the 4th quarter. International Assets Investment Management LLC now owns 735,177 shares of the company’s stock valued at $176,126,000 after buying an additional 731,697 shares during the period. iA Global Asset Management Inc. acquired a new position in Cummins in the 3rd quarter valued at approximately $71,268,000. Envestnet Asset Management Inc. increased its stake in Cummins by 88.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 584,163 shares of the company’s stock valued at $133,458,000 after buying an additional 274,927 shares during the period. Finally, Principal Financial Group Inc. increased 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 during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CMI. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Monday. Citigroup increased their price objective on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Morgan Stanley initiated coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. 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, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $279.70.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock valued at $13,576,838 over the last ninety days. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Down 0.1 %

CMI traded down $0.30 during trading on Friday, reaching $291.31. 271,375 shares of the stock were exchanged, compared to its average volume of 2,685,304. The stock has a market cap of $39.84 billion, a P/E ratio of 56.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The stock’s 50 day moving average price is $282.84 and its two-hundred day moving average price is $250.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.52 earnings per share. Equities analysts expect that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given 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 2.31%. Cummins’s dividend payout ratio (DPR) is 129.73%.

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.