Signaturefd LLC Buys 144 Shares of Cummins Inc. (NYSE:CMI)

Signaturefd LLC grew its stake in Cummins Inc. (NYSE:CMI) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,964 shares of the company’s stock after acquiring an additional 144 shares during the quarter. Signaturefd LLC’s holdings in Cummins were worth $710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Cummins in the 3rd quarter valued at about $25,000. Silver Oak Securities Incorporated acquired a new position in shares of Cummins in the 3rd quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new position in shares of Cummins in the 3rd quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Cummins in the 3rd quarter valued at approximately $39,000. Finally, Peoples Bank KS acquired a new position in shares of Cummins in the 3rd quarter valued at approximately $43,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 0.8 %

NYSE CMI opened at $292.71 on Wednesday. The company has a market cap of $40.03 billion, a PE ratio of 56.51, a PEG ratio of 1.96 and a beta of 1.04. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The stock has a 50 day moving average of $281.69 and a 200-day moving average of $249.59.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the company posted $4.52 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 18.31 EPS for the current fiscal year.

Cummins Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on CMI. The Goldman Sachs Group boosted their price objective on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial assumed coverage on Cummins in a research report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective for the company. Morgan Stanley assumed coverage on Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 price target for the company. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $279.70.

Insider Activity at Cummins

In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on 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 sale, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the 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 transaction, the senior vice president now 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 can be accessed through this link. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on 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 transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,289 shares of company stock worth $13,576,838. Company insiders own 0.56% of the company’s stock.

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.