Cummins Inc. $CMI Shares Purchased by Sapient Capital LLC

Sapient Capital LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 39.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,658 shares of the company’s stock after purchasing an additional 4,436 shares during the quarter. Sapient Capital LLC’s holdings in Cummins were worth $8,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Cedar Mountain Advisors LLC boosted its stake in Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Cummins in the 2nd quarter worth about $26,000. Key Financial Inc raised its stake in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Cummins by 91.7% during the second quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 22 shares during the last quarter. Finally, Steph & Co. grew its stake in Cummins by 112.9% in the first quarter. Steph & Co. now owns 66 shares of the company’s stock worth $36,000 after purchasing an additional 35 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other news, VP Earl Newsome sold 698 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the transaction, the vice president directly owned 4,479 shares in the company, valued at $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Cummins from $690.00 to $600.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Truist Financial lowered their price objective on shares of Cummins from $894.00 to $779.00 and set a “buy” rating for the company in a research report on Monday. UBS Group decreased their target price on Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, CICC Research started coverage on Cummins in a research report on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $717.59.

Cummins Stock Performance

Shares of CMI traded up $2.81 during mid-day trading on Thursday, reaching $520.13. 1,005,736 shares of the company’s stock traded hands, compared to its average volume of 985,956. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The business’s 50-day moving average price is $569.74 and its 200-day moving average price is $620.98. The stock has a market capitalization of $71.60 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. Cummins Inc. has a 12 month low of $400.72 and a 12 month high of $737.76.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same quarter in the prior year, the business earned $6.43 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 30.13 earnings per share for the current year.

Cummins Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were paid a $2.20 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Cummins’s previous quarterly dividend of $2.00. Cummins’s dividend payout ratio (DPR) is currently 44.97%.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.