Signaturefd LLC Grows Stake in Cummins Inc. (NYSE:CMI)

Signaturefd LLC grew its holdings in Cummins Inc. (NYSE:CMI) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,964 shares of the company’s stock after buying an additional 144 shares during the quarter. Signaturefd LLC’s holdings in Cummins were worth $710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMI. SG Americas Securities LLC raised its position in shares of Cummins by 9.5% in the 3rd quarter. SG Americas Securities LLC now owns 7,412 shares of the company’s stock worth $1,693,000 after acquiring an additional 642 shares in the last quarter. Summit Global Investments bought a new position in shares of Cummins in the 3rd quarter worth approximately $437,000. GHP Investment Advisors Inc. raised its position in shares of Cummins by 5.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 15,141 shares of the company’s stock worth $3,448,000 after acquiring an additional 811 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of Cummins by 5.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,626 shares of the company’s stock worth $371,000 after acquiring an additional 85 shares in the last quarter. Finally, NovaPoint Capital LLC raised its position in shares of Cummins by 13.4% in the 3rd quarter. NovaPoint Capital LLC now owns 12,243 shares of the company’s stock worth $2,797,000 after acquiring an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Citigroup raised their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. Evercore ISI raised their price objective on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, TD Cowen raised their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $279.70.

Cummins Stock Performance

Shares of CMI opened at $292.71 on Wednesday. The business’s fifty day simple moving average is $281.69 and its two-hundred day simple moving average is $249.59. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 56.51, a P/E/G ratio of 1.96 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Research analysts anticipate that Cummins Inc. will post 18.31 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. Cummins’s dividend payout ratio (DPR) is currently 129.73%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction 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 transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock worth $13,576,838 in the last ninety days. Insiders own 0.56% of the company’s stock.

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.