Breakwater Capital Group Decreases Position in Cummins Inc. (NYSE:CMI)

Breakwater Capital Group lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,016 shares of the company’s stock after selling 75 shares during the period. Breakwater Capital Group’s holdings in Cummins were worth $299,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bison Wealth LLC increased its stake in shares of Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after purchasing an additional 42 shares during the last quarter. KB Financial Partners LLC boosted its holdings in Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after buying an additional 45 shares during the period. Edmp Inc. boosted its holdings in Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after buying an additional 46 shares during the period. Ledge Wealth Management Inc. boosted its holdings in Cummins by 0.5% in the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after buying an additional 48 shares during the period. Finally, D.B. Root & Company LLC boosted its holdings in Cummins by 0.9% in the 4th quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock worth $1,277,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction dated Friday, May 24th. The stock was purchased at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Cummins Stock Performance

Cummins stock opened at $276.93 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $37.88 billion, a PE ratio of 20.27, a P/E/G ratio of 1.73 and a beta of 0.99. The firm has a fifty day simple moving average of $282.30 and a two-hundred day simple moving average of $269.13. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $304.24.

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

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s dividend payout ratio is presently 49.19%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CMI shares. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and raised their price target for the company from $254.00 to $321.00 in a report on Friday, March 15th. TD Cowen raised 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. Finally, Raymond James initiated coverage on shares of Cummins in a report on Friday. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $287.55.

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.