Kapitalo Investimentos Ltda Buys New Shares in Cummins Inc. (NYSE:CMI)

Kapitalo Investimentos Ltda bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 391 shares of the company’s stock, valued at approximately $94,000.

Other large investors also recently modified their holdings of the company. First United Bank & Trust purchased a new position in shares of Cummins during the 4th quarter valued at $25,000. Private Wealth Management Group LLC bought a new stake in Cummins in the 4th quarter valued at $26,000. Silver Oak Securities Incorporated bought a new stake in Cummins in the 3rd quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Cummins in the 4th quarter valued at $31,000. Finally, Quarry LP increased its holdings in Cummins by 258.5% in the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $273.79 on Thursday. The company has a market capitalization of $37.45 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.68 and a beta of 1.02. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $304.24. The firm’s 50-day moving average is $284.32 and its 200 day moving average is $266.54.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Research analysts predict that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were given a $1.68 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 annualized dividend and a yield of 2.45%. Cummins’s dividend payout ratio (DPR) is 49.19%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marvin Boakye acquired 1,745 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the purchase, the vice president now owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMI. TD Cowen lifted their price target on shares of Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a report on Friday, May 10th. Robert W. Baird reduced their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group lifted their price target on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Finally, UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and an average price target of $284.36.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.