Cambient Family Office LLC Invests $1.07 Million in Cummins Inc. $CMI

Cambient Family Office LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,091 shares of the company’s stock, valued at approximately $1,067,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Wick Capital Partners LLC acquired a new position in Cummins in the 4th quarter worth $3,837,000. Compound Planning Inc. raised its stake in shares of Cummins by 18.9% in the 4th quarter. Compound Planning Inc. now owns 3,160 shares of the company’s stock valued at $1,613,000 after purchasing an additional 503 shares during the period. TMB Capital Partners LLC acquired a new stake in shares of Cummins in the 4th quarter valued at about $1,460,000. Rare Wolf Capital LLC bought a new stake in shares of Cummins in the fourth quarter valued at about $378,000. Finally, Axxcess Wealth Management LLC boosted its position in shares of 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. 83.46% of the stock is owned by institutional investors.

Insider Transactions at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the sale, the vice president owned 11,986 shares in the company, valued at $8,344,773.06. This represents a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brett Michael Merritt sold 701 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CMI. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Evercore restated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research note on Monday, May 11th. Argus upped their price target on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Citigroup raised their price target on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $731.86.

Cummins Stock Performance

Shares of CMI stock opened at $716.50 on Friday. The stock has a market cap 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. 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 company has a fifty day moving average price of $660.60 and a two-hundred day moving average price of $589.80. Cummins Inc. has a one year low of $307.90 and a one year high of $737.76.

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

Cummins Dividend Announcement

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

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.