Cummins Inc. (NYSE:CMI) Shares Acquired by Signaturefd LLC

Signaturefd LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,125 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Signaturefd LLC’s holdings in Cummins were worth $921,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CMI. First United Bank & Trust acquired a new position in Cummins during the fourth quarter worth $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Cummins in the 4th quarter valued at $26,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the 3rd quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Cummins during the 4th quarter valued at about $31,000. Finally, JNBA Financial Advisors grew its position in Cummins by 1,111.1% in the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares in the company, valued at $359,808.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Jeffrey T. Wiltrout acquired 282 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of 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 legal filing with the SEC, which is available through this link. Also, VP Marvin Boakye bought 1,745 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the acquisition, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CMI shares. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird dropped their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Raymond James began coverage on Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup began coverage on Cummins in a report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus price target of $287.18.

Cummins Price Performance

CMI stock opened at $280.01 on Friday. The business has a 50 day moving average price of $279.20 and a 200 day moving average price of $270.56. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The stock has a market cap of $38.30 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.72 and a beta of 0.99. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Equities research analysts anticipate that Cummins Inc. will post 18.73 earnings per share for the current fiscal year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd will be issued a dividend of $1.82 per share. This is a positive change from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, August 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.60%. Cummins’s dividend payout ratio (DPR) is presently 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.