4,400 Shares in Cummins Inc. $CMI Bought by Entropy Technologies LP

Entropy Technologies LP bought a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, Holdings Channel reports. The fund bought 4,400 shares of the company’s stock, valued at approximately $2,246,000.

Several other hedge funds have also modified their holdings of CMI. Vanguard Group Inc. boosted its holdings in shares of Cummins by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after buying an additional 98,544 shares during the period. State Street Corp raised its holdings in shares of Cummins by 0.8% during the fourth quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after acquiring an additional 49,628 shares during the period. Geode Capital Management LLC lifted its position in shares of Cummins by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after acquiring an additional 35,286 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Cummins by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after purchasing an additional 43,722 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after purchasing an additional 2,434,876 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In related news, 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 transaction of $482,813.75. Following the transaction, the insider owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicole Lamb-Hale sold 2,408 shares of Cummins stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the completion of the sale, the chief accounting officer owned 14,084 shares of the company’s stock, valued at $9,652,328.56. This trade represents a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $679.66 on Tuesday. The firm has a market cap of $93.79 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 1.61 and a beta of 1.24. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $651.02 and a 200 day simple moving average of $585.26.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating 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 firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins’s dividend payout ratio is currently 41.52%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and raised their target price for the stock from $565.00 to $850.00 in a research report on Monday, June 8th. Evercore reiterated an “outperform” rating and set a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Robert W. Baird set a $700.00 price objective on Cummins in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. 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’s stock. According to MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus target price of $726.14.

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.