Cummins Inc. (NYSE:CMI) Shares Acquired by Virtu Financial LLC

Virtu Financial LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 239.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,543 shares of the company’s stock after purchasing an additional 8,145 shares during the period. Virtu Financial LLC’s holdings in Cummins were worth $2,765,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMI. Neo Ivy Capital Management acquired a new stake in shares of Cummins in the 4th quarter valued at $203,000. Beacon Financial Group raised its stake in Cummins by 7.0% in the fourth quarter. Beacon Financial Group now owns 1,933 shares of the company’s stock valued at $463,000 after buying an additional 126 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in Cummins during the 4th quarter worth about $1,196,000. V Square Quantitative Management LLC boosted its position in shares of Cummins by 35.6% during the 4th quarter. V Square Quantitative Management LLC now owns 2,398 shares of the company’s stock worth $574,000 after acquiring an additional 630 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Cummins by 258.5% in the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after acquiring an additional 106 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 1.4 %

Shares of CMI stock traded down $3.90 on Friday, reaching $266.48. 897,844 shares of the stock were exchanged, compared to its average volume of 784,398. Cummins Inc. has a 1-year low of $212.80 and a 1-year high of $304.24. The stock has a market cap of $36.45 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.66 and a beta of 1.02. 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 firm has a 50 day moving average of $286.06 and a two-hundred day moving average of $265.54.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.36 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. On average, research analysts anticipate that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s dividend payout ratio is presently 49.19%.

Insider Transactions at Cummins

In other Cummins news, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the transaction, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value 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 approximately $5,987,628.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares in the company, valued at approximately $359,808.82. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of several research analyst reports. Evercore ISI lifted their price target on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, TD Cowen lifted their target price on shares of Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $284.36.

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.