Wick Capital Partners LLC Acquires New Position in Cummins Inc. $CMI

Wick Capital Partners LLC bought 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 (SEC). The firm bought 7,517 shares of the company’s stock, valued at approximately $3,837,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Compound Planning Inc. boosted its holdings in shares of Cummins by 18.9% during the fourth quarter. Compound Planning Inc. now owns 3,160 shares of the company’s stock worth $1,613,000 after purchasing an additional 503 shares during the last quarter. TMB Capital Partners LLC acquired a new position in Cummins in the fourth quarter valued at $1,460,000. Rare Wolf Capital LLC purchased a new position in Cummins during the fourth quarter worth about $378,000. Axxcess Wealth Management LLC lifted its position in Cummins by 1.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 17,493 shares of the company’s stock worth $8,929,000 after buying an additional 269 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in Cummins in the 4th quarter worth about $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE CMI opened at $716.50 on Friday. The firm has a market capitalization of $98.87 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.75 and a beta of 1.23. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $737.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The business’s 50-day simple moving average is $660.60 and its 200-day simple moving average is $589.80.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the business earned $5.96 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, May 22nd. Cummins’s payout ratio is currently 41.52%.

Insiders Place Their Bets

In other news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $685.34, for a total value of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This trade represents a 14.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the transaction, the vice president owned 11,986 shares in the company, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. Truist Financial set a $815.00 price target on Cummins in a report on Wednesday, May 6th. UBS Group reiterated a “buy” rating on shares of Cummins in a report on Wednesday. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Finally, Robert W. Baird set a $700.00 price target on shares of Cummins in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $731.86.

Cummins Company 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.