Sapient Capital LLC Raises Position in Cummins Inc. (NYSE:CMI)

Sapient Capital LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,127 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Sapient Capital LLC’s holdings in Cummins were worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Cummins during the 4th quarter worth about $202,000. Soltis Investment Advisors LLC raised its stake in Cummins by 7.4% during the fourth quarter. Soltis Investment Advisors LLC now owns 666 shares of the company’s stock worth $232,000 after purchasing an additional 46 shares during the period. Savant Capital LLC boosted its holdings in shares of Cummins by 2.8% in the 4th quarter. Savant Capital LLC now owns 12,910 shares of the company’s stock valued at $4,501,000 after purchasing an additional 349 shares during the last quarter. Angeles Wealth Management LLC grew its stake in shares of Cummins by 115.8% during the 4th quarter. Angeles Wealth Management LLC now owns 2,238 shares of the company’s stock valued at $780,000 after buying an additional 1,201 shares during the period. Finally, HTLF Bank acquired a new stake in shares of Cummins during the 4th quarter worth $200,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research reports. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $383.08.

Insider Activity

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 4,327 shares of company stock worth $1,582,821. 0.56% of the stock is currently owned by insiders.

Cummins Stock Up 0.6 %

CMI stock opened at $373.98 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $361.82 and a 200-day simple moving average of $336.52. The company has a market capitalization of $51.30 billion, a P/E ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. Cummins Inc. has a twelve month low of $250.90 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins 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.