Team Hewins LLC Acquires Shares of 886 Cummins Inc. (NYSE:CMI)

Team Hewins LLC bought a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 886 shares of the company’s stock, valued at approximately $212,000.

Other large investors have also recently modified their holdings of the company. MGO One Seven LLC increased its position in shares of Cummins by 8.9% during the third quarter. MGO One Seven LLC now owns 1,447 shares of the company’s stock valued at $331,000 after buying an additional 118 shares during the period. NBC Securities Inc. bought a new stake in Cummins during the 3rd quarter worth approximately $310,000. Ieq Capital LLC lifted its stake in Cummins by 3.9% in the 3rd quarter. Ieq Capital LLC now owns 4,986 shares of the company’s stock worth $1,139,000 after purchasing an additional 187 shares in the last quarter. Lincoln National Corp boosted its holdings in Cummins by 102.0% in the 3rd quarter. Lincoln National Corp now owns 3,819 shares of the company’s stock valued at $872,000 after purchasing an additional 1,928 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Cummins by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 166,222 shares of the company’s stock valued at $37,975,000 after purchasing an additional 1,617 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeffrey T. Wiltrout bought 282 shares of Cummins stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cummins news, Director Daniel William Fisher purchased 562 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the transaction, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey T. Wiltrout acquired 282 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the purchase, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. Insiders purchased 2,589 shares of company stock worth $729,353 over the last three months. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent analyst reports. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their target price for the company from $254.00 to $321.00 in a research note on Friday, March 15th. The Goldman Sachs Group upped their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen lifted their price target on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $284.36.

Cummins Stock Performance

Cummins stock opened at $284.91 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a market cap of $38.97 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.80 and a beta of 1.04. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The firm has a 50-day moving average of $291.16 and a 200-day moving average of $260.32.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing the consensus estimate of $5.11 by ($0.01). The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. Sell-side analysts expect that Cummins Inc. will post 18.6 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 24th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, May 23rd. Cummins’s payout ratio is 49.19%.

About Cummins

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.