DGS Capital Management LLC Purchases Shares of 1,906 Cummins Inc. $CMI

DGS Capital Management LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,906 shares of the company’s stock, valued at approximately $973,000.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after acquiring an additional 98,544 shares during the last quarter. State Street Corp raised its holdings in shares of Cummins by 0.8% in the fourth quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after purchasing an additional 49,628 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after purchasing an additional 35,286 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after purchasing an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after purchasing an additional 2,434,876 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.2%

CMI opened at $716.50 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The stock has a market cap of $98.87 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.75 and a beta of 1.23. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $737.76. The company’s 50-day moving average price is $660.60 and its two-hundred day moving average price is $589.80.

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

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 is 41.52%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore reaffirmed an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Citigroup boosted their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Finally, Robert W. Baird set a $700.00 price objective on Cummins in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $731.86.

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at $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 available through this link. Also, 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 transaction, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This represents a 6.31% 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 valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Cummins Company 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.