Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in shares of Cummins Inc. (NYSE:CMI – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,676 shares of the company’s stock, valued at approximately $1,366,000.
Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC boosted 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 acquiring an additional 91,956 shares during the period. Accredited Wealth Management LLC boosted its holdings in Cummins by 3,100.0% during the third quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock valued at $1,352,000 after acquiring an additional 3,100 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in Cummins by 5.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock valued at $20,610,000 after acquiring an additional 2,574 shares during the period. Payden & Rygel bought a new stake in Cummins during the third quarter valued at about $9,757,000. Finally, Jefferies Financial Group Inc. bought a new stake in Cummins during the third quarter valued at about $11,129,000. 83.46% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. This represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 over the last quarter. Company insiders own 0.30% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on CMI
Cummins Stock Performance
NYSE:CMI opened at $659.77 on Friday. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The firm has a 50 day moving average of $648.43 and a 200-day moving average of $583.26. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $91.04 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23.
Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. Cummins’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 29.29 EPS for the current fiscal year.
Cummins Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.
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.
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