Sapient Capital LLC Takes Position in Cummins Inc. (NYSE:CMI)

Sapient Capital LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,268 shares of the company’s stock, valued at approximately $3,179,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Cummins during the third quarter worth $25,000. Silver Oak Securities Incorporated acquired a new stake in shares of Cummins in the third quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Cummins during the fourth quarter worth about $31,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Cummins in the third quarter worth approximately $39,000. Finally, Peoples Bank KS bought a new stake in Cummins in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the firm’s 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 completion of the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMI. Robert W. Baird decreased their price objective on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a research report on Friday, March 15th. Citigroup raised their price target on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. The Goldman Sachs Group increased their price objective 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. Finally, TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $282.55.

Cummins Stock Performance

Shares of NYSE CMI traded up $0.45 during midday trading on Friday, reaching $280.74. The company’s stock had a trading volume of 1,058,929 shares, compared to its average volume of 954,800. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.74. The stock has a market capitalization of $38.39 billion, a P/E ratio of 20.55, a PEG ratio of 1.90 and a beta of 1.04. The firm has a 50 day moving average price of $285.06 and a 200-day moving average price of $252.19. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $4.52 earnings per share. As a group, equities analysts predict that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. Cummins’s payout ratio is currently 49.19%.

Cummins Company 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.