TMB Capital Partners LLC Takes $1.46 Million Position in Cummins Inc. $CMI

TMB Capital Partners LLC acquired a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,860 shares of the company’s stock, valued at approximately $1,460,000.

A number of other hedge funds also recently bought and sold shares of CMI. Brighton Jones LLC boosted its position in Cummins by 4.1% in the fourth 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 increased its position in shares of Cummins by 40.8% during the 1st 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 during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Cummins by 2.8% during the 2nd 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 during the last quarter. ICW Investment Advisors LLC bought a new position in shares of Cummins in the 2nd quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Cummins in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.2%

Shares of NYSE:CMI opened at $716.50 on Friday. The stock has a 50 day moving average of $660.60 and a 200 day moving average of $589.80. The company has a market cap of $98.87 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $737.76. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last released its 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. 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 analysts’ expectations of $8.37 billion. During the same quarter last year, the business earned $5.96 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.1%. Cummins’s dividend payout ratio is 41.52%.

Insider Activity

In related news, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction 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 transaction, the insider owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. This represents a 6.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Cummins in a research report on Wednesday. Evercore reiterated an “outperform” rating and set a $845.00 price target on shares of Cummins in a research note on Monday, May 11th. Barclays boosted their price objective on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup upped their price objective on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company raised their target price on Cummins from $794.00 to $874.00 and gave the stock an “overweight” rating in a report 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 company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target 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.