Caprock Group LLC Has $4.59 Million Stock Position in Cummins Inc. $CMI

Caprock Group LLC lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 12.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,998 shares of the company’s stock after buying an additional 997 shares during the period. Caprock Group LLC’s holdings in Cummins were worth $4,594,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new position in shares of Cummins during the 4th quarter worth $26,000. Holos Integrated Wealth LLC acquired a new position in shares of Cummins during the 4th quarter worth $32,000. Palouse Capital Management Inc. acquired a new position in shares of Cummins during the 4th quarter worth $33,000. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins during the 3rd quarter worth $28,000. Finally, Olistico Wealth LLC acquired a new position in shares of Cummins during the 4th quarter worth $39,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the sale, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.30% of the stock is currently owned by insiders.

Cummins Trading Up 2.9%

NYSE CMI opened at $657.49 on Friday. The business’s 50-day moving average price is $575.23 and its two-hundred day moving average price is $528.25. Cummins Inc. has a 12 month low of $282.77 and a 12 month high of $663.01. The firm has a market capitalization of $90.84 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.02 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 released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.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 previous year, the company posted $5.16 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, analysts expect that Cummins Inc. will post 26.03 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins’s payout ratio is 38.99%.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wells Fargo & Company boosted their price target on Cummins from $630.00 to $693.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. Truist Financial boosted their price target on Cummins from $703.00 to $730.00 and gave the stock a “buy” rating in a report on Monday. Wolfe Research cut Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a report on Monday, January 26th. Finally, Barclays upped their target price on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $600.27.

About Cummins

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.