Sapient Capital LLC Reduces Stock Position in Cummins Inc. $CMI

Sapient Capital LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,474 shares of the company’s stock after selling 2,038 shares during the period. Sapient Capital LLC’s holdings in Cummins were worth $6,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Activest Wealth Management lifted its holdings in Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares during the period. Cedar Mountain Advisors LLC increased its stake in shares of Cummins by 1,500.0% during the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 45 shares during the period. Wellington Shields Capital Management LLC bought a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Key Financial Inc raised its holdings in shares of Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Finally, Birchwood Financial Partners Inc. purchased a new stake in Cummins in the fourth quarter worth $28,000. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president directly owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Marvin Boakye sold 3,481 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $679.90, for a total value of $2,366,731.90. Following the completion of the transaction, the vice president owned 8,508 shares of the company’s stock, valued at $5,784,589.20. This represents a 29.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,579 shares of company stock worth $9,377,684 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of several recent analyst reports. Citigroup boosted their price objective on shares of Cummins from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. Barclays boosted their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial increased their price target on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $740.07.

Cummins Stock Up 0.2%

CMI stock opened at $635.55 on Monday. The business has a 50 day moving average of $670.10 and a 200 day moving average of $622.95. The firm has a market cap of $87.70 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Cummins Inc. has a twelve month low of $354.68 and a twelve month high of $737.76. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. Cummins’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $5.96 EPS. On average, research analysts forecast that Cummins Inc. will post 29.39 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $2.20 dividend. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 21st. This represents a $8.80 annualized dividend and a yield of 1.4%. Cummins’s payout ratio 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.