Syon Capital LLC Purchases 966 Shares of Cummins Inc. (NYSE:CMI)

Syon Capital LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 41.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,299 shares of the company’s stock after acquiring an additional 966 shares during the period. Syon Capital LLC’s holdings in Cummins were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. SG Americas Securities LLC increased its holdings in Cummins by 9.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,412 shares of the company’s stock worth $1,693,000 after acquiring an additional 642 shares during the period. Koshinski Asset Management Inc. grew its stake in Cummins by 5.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,626 shares of the company’s stock worth $371,000 after buying an additional 85 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Cummins in the 3rd quarter worth approximately $275,000. Czech National Bank grew its stake in Cummins by 47.7% in the 3rd quarter. Czech National Bank now owns 24,756 shares of the company’s stock worth $5,656,000 after buying an additional 7,998 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Cummins by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 62,603 shares of the company’s stock worth $14,302,000 after buying an additional 466 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.2 %

CMI traded down $0.47 during trading on Friday, hitting $291.14. 463,214 shares of the stock traded hands, compared to its average volume of 2,688,031. The firm has a market capitalization of $39.82 billion, a P/E ratio of 56.25, a price-to-earnings-growth ratio of 1.99 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. The firm has a 50-day moving average of $282.84 and a 200 day moving average of $250.18. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24.

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

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.31%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. The Goldman Sachs Group boosted their price target on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial began coverage on shares of Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 price target for the company. Finally, UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and upped their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average price target of $279.70.

Insiders Place Their Bets

In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now owns 2,698 shares of the company’s stock, valued at $720,123.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is currently owned by corporate insiders.

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.