Cwm LLC Buys 2,143 Shares of Cummins Inc. $CMI

Cwm LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,378 shares of the company’s stock after purchasing an additional 2,143 shares during the period. Cwm LLC’s holdings in Cummins were worth $15,507,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CMI. Fisher Asset Management LLC grew its holdings in Cummins by 2.8% during the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after purchasing an additional 91,956 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cummins by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company’s stock valued at $649,280,000 after buying an additional 7,372 shares during the period. Raymond James Financial Inc. raised its stake in shares of Cummins by 4.5% in the third quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company’s stock valued at $640,090,000 after buying an additional 64,822 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Cummins by 50.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock valued at $612,715,000 after buying an additional 488,430 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Cummins during the 3rd quarter valued at $473,471,000. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMI. Wall Street Zen lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Wells Fargo & Company increased their target price on shares of Cummins from $630.00 to $693.00 and gave the stock an “overweight” rating in a research report on Monday, April 13th. Barclays lifted their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Cummins in a research report on Friday, April 10th. Finally, Robert W. Baird set a $580.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.47.

Insider Activity

In related news, VP Earl Newsome sold 1,300 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares in the company, valued at $1,978,057.63. This represents a 27.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares in the company, valued at $4,329,337.82. This represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 31,195 shares of company stock valued at $18,397,489. 0.30% of the stock is owned by insiders.

Cummins Stock Performance

Shares of CMI opened at $626.91 on Friday. Cummins Inc. has a 52-week low of $269.24 and a 52-week high of $628.00. The stock’s 50-day simple moving average is $571.31 and its 200 day simple moving average is $522.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The stock has a market capitalization of $86.61 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.14.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the firm earned $5.16 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. Cummins’s dividend payout ratio (DPR) is presently 38.99%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.