Sivia Capital Partners LLC Takes $328,000 Position in Cummins Inc. (NYSE:CMI)

Sivia Capital Partners LLC purchased a new position in Cummins Inc. (NYSE:CMI) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 1,048 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after acquiring an additional 28 shares during the last quarter. Fiduciary Trust Co raised its position in Cummins by 1.2% in the 4th quarter. Fiduciary Trust Co now owns 2,456 shares of the company’s stock worth $856,000 after purchasing an additional 28 shares during the period. Avestar Capital LLC lifted its stake in Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the last quarter. Quent Capital LLC boosted its position in shares of Cummins by 5.6% during the fourth quarter. Quent Capital LLC now owns 620 shares of the company’s stock valued at $216,000 after buying an additional 33 shares during the period. Finally, Sapient Capital LLC grew its stake in shares of Cummins by 0.3% during the fourth quarter. Sapient Capital LLC now owns 13,127 shares of the company’s stock valued at $4,576,000 after buying an additional 34 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group lowered Cummins from a “buy” rating to a “sell” rating and decreased their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Evercore ISI decreased their target price on Cummins from $451.00 to $419.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Citigroup boosted their target price on shares of Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Morgan Stanley raised their price target on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $357.25.

Insiders Place Their Bets

In other news, Director John H. Stone purchased 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were acquired at an average cost of $332.08 per share, with a total value of $332,080.00. Following the completion of the acquisition, the director now owns 2,441 shares of the company’s stock, valued at $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Cummins Price Performance

Shares of CMI opened at $326.74 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a 50 day moving average price of $304.31 and a 200-day moving average price of $338.16. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The stock has a market capitalization of $45.01 billion, a PE ratio of 11.60, a PEG ratio of 2.19 and a beta of 1.04.

Cummins (NYSE:CMI) last announced its earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. During the same quarter last year, the firm earned $5.08 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $1.82 dividend. The ex-dividend date was Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.23%. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

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.