Wynn Capital LLC Purchases New Shares in Cummins Inc. (NYSE:CMI)

Wynn Capital LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,355 shares of the company’s stock, valued at approximately $564,000.

Other institutional investors have also added to or reduced their stakes in the company. Balentine LLC grew its holdings in shares of Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after purchasing an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Cummins by 200.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after buying an additional 3,866 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new position in Cummins in the third quarter valued at about $9,048,000. Capital Advisors Inc. OK bought a new position in Cummins in the fourth quarter valued at about $24,915,000. Finally, SG Americas Securities LLC raised its position in Cummins by 227.6% in the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after purchasing an additional 16,869 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMI shares. Citigroup increased their target price on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their price objective on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. The Goldman Sachs Group raised their price objective on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $279.70.

Cummins Stock Performance

Cummins stock traded down $0.28 during mid-day trading on Wednesday, reaching $292.42. 760,636 shares of the company’s stock were exchanged, compared to its average volume of 2,740,257. The firm has a market capitalization of $39.99 billion, a PE ratio of 56.60, a P/E/G ratio of 1.97 and a beta of 1.04. The business’s fifty day simple moving average is $281.69 and its 200 day simple moving average is $249.59. 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 Inc. has a one year low of $203.18 and a one year high of $304.24.

Cummins (NYSE:CMI) last issued 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). The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.52 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Dividend Announcement

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

Insider Activity at Cummins

In related news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 73,741 shares in the company, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction dated 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 directly owns 73,741 shares in the company, valued at approximately $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 $4,685,847.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by company insiders.

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.