Fieldview Capital Management LLC Sells 1,550 Shares of Cummins Inc. $CMI

Fieldview Capital Management LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 65.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 806 shares of the company’s stock after selling 1,550 shares during the quarter. Fieldview Capital Management LLC’s holdings in Cummins were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after acquiring an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC bought a new position in shares of Cummins during the second quarter valued at $225,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Cummins during the second quarter valued at $31,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of several analyst reports. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Argus raised their price target on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday, June 1st. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their price target for the company from $565.00 to $850.00 in a research note on Monday, June 8th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Barclays lifted their target price on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.14.

Cummins Stock Up 3.0%

CMI opened at $679.66 on Tuesday. 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’s 50-day moving average is $651.02 and its 200 day moving average is $585.26. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The firm has a market capitalization of $93.79 billion, a P/E ratio of 35.27, a PEG ratio of 1.61 and a beta of 1.24.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share 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 analyst estimates of $8.37 billion. During the same period last year, the firm earned $5.96 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts expect that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction dated Tuesday, May 12th. The shares were 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 of the company’s stock, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nathan R. Stoner sold 607 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president directly owned 9,447 shares in the company, valued at approximately $6,556,784.82. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

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.