Inceptionr LLC Has $1.83 Million Holdings in Cummins Inc. $CMI

Inceptionr LLC lifted its position in Cummins Inc. (NYSE:CMI) by 108.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,593 shares of the company’s stock after buying an additional 1,870 shares during the quarter. Cummins comprises 0.5% of Inceptionr LLC’s investment portfolio, making the stock its 9th largest holding. Inceptionr LLC’s holdings in Cummins were worth $1,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Brighton Jones LLC lifted its holdings in Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new position in shares of Cummins in the second quarter valued at $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins in the second quarter valued at $31,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CMI shares. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and upped their price target for the company from $565.00 to $850.00 in a research report on Monday. Wells Fargo & Company increased their target price on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird set a $700.00 target price on Cummins in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.14.

Insiders Place Their Bets

In related news, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. This represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,579 shares of company stock worth $9,377,684 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Cummins Trading Down 5.7%

NYSE CMI opened at $630.88 on Thursday. The firm has a market cap of $87.05 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The stock’s 50-day moving average is $643.89 and its 200-day moving average is $581.43. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.Cummins’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.96 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

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.