Choreo LLC Acquires 2,486 Shares of Cummins Inc. (NYSE:CMI)

Choreo LLC raised its stake in shares of Cummins Inc. (NYSE:CMI) by 175.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,904 shares of the company’s stock after purchasing an additional 2,486 shares during the period. Choreo LLC’s holdings in Cummins were worth $935,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Silver Oak Securities Incorporated increased its position in shares of Cummins by 309.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 495 shares of the company’s stock valued at $119,000 after purchasing an additional 374 shares during the last quarter. Intellectus Partners LLC increased its holdings in Cummins by 3.9% during the 4th quarter. Intellectus Partners LLC now owns 2,913 shares of the company’s stock worth $698,000 after acquiring an additional 110 shares during the period. Russell Investments Group Ltd. increased its stake in Cummins by 43.7% in the 4th quarter. Russell Investments Group Ltd. now owns 173,267 shares of the company’s stock worth $41,516,000 after acquiring an additional 52,720 shares during the last quarter. Dohj LLC increased its position in shares of Cummins by 14.4% in the fourth quarter. Dohj LLC now owns 1,358 shares of the company’s stock worth $325,000 after purchasing an additional 171 shares during the last quarter. Finally, Syon Capital LLC raised its position in shares of Cummins by 41.4% during the 4th quarter. Syon Capital LLC now owns 3,299 shares of the company’s stock valued at $790,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CMI shares. Truist Financial began coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley began coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. Finally, Evercore ISI raised their price objective on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $279.70.

Insider Transactions at Cummins

In other Cummins news, Director Daniel William Fisher bought 562 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Daniel William Fisher bought 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now owns 1,068 shares in the company, valued at approximately $284,696.76. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock valued at $13,576,838 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Cummins Trading Up 0.5 %

Shares of CMI stock opened at $283.85 on Thursday. The firm has a fifty day moving average price of $284.71 and a 200-day moving average price of $251.99. The company has a market cap of $38.82 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 2.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the company earned $4.52 EPS. The business’s revenue was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. Cummins’s dividend payout ratio is currently 129.73%.

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.