Rare Wolf Capital LLC Purchases Shares of 740 Cummins Inc. $CMI

Rare Wolf Capital LLC acquired a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 740 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors also recently modified their holdings of CMI. Axxcess Wealth Management LLC increased its position in shares of Cummins by 1.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 17,493 shares of the company’s stock valued at $8,929,000 after purchasing an additional 269 shares during the period. Birchwood Financial Partners Inc. bought a new position in Cummins in the fourth quarter worth $28,000. Corient Private Wealth LLC lifted its position in Cummins by 52.4% in the fourth quarter. Corient Private Wealth LLC now owns 492,638 shares of the company’s stock worth $251,467,000 after purchasing an additional 169,371 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Cummins by 17.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 70,235 shares of the company’s stock worth $35,852,000 after buying an additional 10,457 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Cummins by 2.6% during the fourth quarter. Raymond James Financial Inc. now owns 1,555,541 shares of the company’s stock worth $794,521,000 after buying an additional 40,068 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $716.50 on Friday. The firm has a market capitalization of $98.87 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.75 and a beta of 1.23. The stock has a fifty day moving average price of $660.60 and a two-hundred day moving average price of $589.80. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $737.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company earned $5.96 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Insider Transactions at Cummins

In other news, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the transaction, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent research reports. Robert W. Baird set a $700.00 price objective on shares of Cummins in a research note on Wednesday, May 6th. Raymond James Financial lifted their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Argus increased their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, UBS Group restated a “buy” rating on shares of Cummins in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $731.86.

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.