V Square Quantitative Management LLC Buys New Shares in Cummins Inc. $CMI

V Square Quantitative Management LLC bought a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,905 shares of the company’s stock, valued at approximately $1,483,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CMI. Thompson Investment Management Inc. acquired a new position in Cummins in the fourth quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in Cummins in the third quarter valued at $28,000. Osterweis Capital Management Inc. acquired a new position in Cummins in the second quarter valued at $31,000. Holos Integrated Wealth LLC acquired a new position in Cummins in the fourth quarter valued at $32,000. Finally, Guerra Advisors Inc acquired a new position in Cummins in the third quarter valued at $36,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $596.51 on Thursday. The firm’s 50-day moving average price is $566.98 and its 200-day moving average price is $513.51. Cummins Inc. has a 1-year low of $262.49 and a 1-year high of $617.98. The firm has a market capitalization of $82.41 billion, a P/E ratio of 29.07, a P/E/G ratio of 1.74 and a beta of 1.14. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio is currently 38.99%.

Insider Buying and Selling

In related news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the sale, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This represents a 20.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the sale, the vice president owned 7,214 shares in the company, valued at $4,329,337.82. This represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 over the last ninety days. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James Financial lifted their price target on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Argus set a $696.00 price objective on shares of Cummins in a report on Tuesday, February 10th. Citigroup upped their price objective on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.