Fieldview Capital Management LLC Takes $995,000 Position in Cummins Inc. $CMI

Fieldview Capital Management LLC acquired a new position in Cummins Inc. (NYSE:CMI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,356 shares of the company’s stock, valued at approximately $995,000.

Other large investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in Cummins in the 3rd quarter valued at approximately $28,000. Salomon & Ludwin LLC lifted its holdings in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares during the last quarter. Guerra Advisors Inc bought a new stake in shares of Cummins in the third quarter valued at approximately $36,000. Tripletail Wealth Management LLC bought a new stake in shares of Cummins in the third quarter valued at approximately $39,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Cummins in the second quarter worth $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total value of $10,811,689.70. Following the sale, the director directly owned 34,243 shares in the company, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Earl Newsome sold 1,300 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president directly owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Argus set a $696.00 price target on shares of Cummins in a research report on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Barclays upped their price objective on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Stock Up 1.9%

Shares of CMI stock opened at $549.46 on Tuesday. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a fifty day moving average price of $571.48 and a 200 day moving average price of $492.43. The stock has a market cap of $75.91 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the firm posted $5.16 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. Cummins’s payout ratio is presently 38.99%.

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.