Cummins Inc. (NYSE:CMI) Shares Purchased by Syon Capital LLC

Syon Capital LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 41.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,299 shares of the company’s stock after purchasing an additional 966 shares during the quarter. Syon Capital LLC’s holdings in Cummins were worth $790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Two Point Capital Management Inc. purchased a new position in Cummins during the 4th quarter valued at about $7,689,000. Eley Financial Management Inc boosted its holdings in Cummins by 0.6% during the 4th quarter. Eley Financial Management Inc now owns 15,647 shares of the company’s stock valued at $3,749,000 after acquiring an additional 92 shares during the period. Bailard Inc. boosted its holdings in Cummins by 2.1% during the 4th quarter. Bailard Inc. now owns 54,489 shares of the company’s stock valued at $13,054,000 after acquiring an additional 1,137 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in Cummins by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,012 shares of the company’s stock valued at $2,878,000 after acquiring an additional 492 shares during the period. Finally, Wynn Capital LLC purchased a new position in Cummins during the 4th quarter valued at about $564,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

NYSE CMI traded down $0.47 on Friday, reaching $291.14. The stock had a trading volume of 463,214 shares, compared to its average volume of 2,688,031. 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 Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The business’s 50-day moving average price is $282.84 and its 200 day moving average price is $250.18. The stock has a market cap of $39.82 billion, a P/E ratio of 56.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last issued its quarterly earnings data 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). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the firm posted $4.52 EPS. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Morgan Stanley assumed coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Citigroup lifted their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Truist Financial assumed coverage on Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $279.70.

Insider Transactions at Cummins

In other news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 over the last 90 days. 0.56% of the stock is currently owned by insiders.

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.