Inceptionr LLC Has $1.83 Million Stock Holdings in Cummins Inc. $CMI

Inceptionr LLC lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 108.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,593 shares of the company’s stock after purchasing an additional 1,870 shares during the quarter. Cummins comprises approximately 0.5% of Inceptionr LLC’s holdings, making the stock its 9th biggest position. Inceptionr LLC’s holdings in Cummins were worth $1,834,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMI. Fisher Asset Management LLC raised its holdings in shares of Cummins by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after buying an additional 91,956 shares in the last quarter. Accredited Wealth Management LLC raised its holdings in shares of Cummins by 3,100.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock worth $1,352,000 after buying an additional 3,100 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cummins by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock worth $20,610,000 after buying an additional 2,574 shares in the last quarter. Payden & Rygel acquired a new position in shares of Cummins during the 3rd quarter worth $9,757,000. Finally, Jefferies Financial Group Inc. acquired a new position in Cummins in the 3rd quarter worth about $11,129,000. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the sale, the insider owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Argus upped their target price on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $700.00 target price on Cummins in a report on Wednesday, May 6th. Finally, Truist Financial set a $815.00 target price on Cummins in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $726.14.

Cummins Price Performance

Shares of CMI opened at $630.88 on Thursday. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08. The business has a 50-day simple moving average of $643.89 and a two-hundred day simple moving average of $581.43. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The stock has a market cap of $87.05 billion, a PE ratio of 32.74, a PEG ratio of 1.64 and a beta of 1.23.

Cummins (NYSE:CMI) last released its quarterly 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 analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date 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.