235 Shares in Cummins Inc. (NYSE:CMI) Bought by CVA Family Office LLC

CVA Family Office LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 235 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. KB Financial Partners LLC boosted its position in Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after buying an additional 45 shares during the last quarter. Columbia Trust Co 01012016 boosted its position in Cummins by 1.2% in the 3rd quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after buying an additional 48 shares during the last quarter. Spears Abacus Advisors LLC boosted its position in Cummins by 5.1% in the 1st quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after buying an additional 48 shares during the last quarter. Peloton Wealth Strategists boosted its position in Cummins by 0.4% in the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after buying an additional 50 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its position in Cummins by 8.9% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 610 shares of the company’s stock valued at $147,000 after buying an additional 50 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel William Fisher acquired 562 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 over the last three months. Corporate insiders own 1.05% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $294.69 on Thursday. The firm’s 50 day moving average is $260.31 and its two-hundred day moving average is $240.49. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $297.11. The firm has a market capitalization of $41.80 billion, a P/E ratio of 56.89, a PEG ratio of 1.95 and a beta of 1.03. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 EPS. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 18.36 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMI. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday. Citigroup increased their price target on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Finally, TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $271.64.

About Cummins

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.