Entropy Technologies LP Invests $2.25 Million in Cummins Inc. $CMI

Entropy Technologies LP acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,400 shares of the company’s stock, valued at approximately $2,246,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter valued at approximately $26,000. Activest Wealth Management lifted its stake in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Cummins during the fourth quarter worth $27,000. Ares Financial Consulting LLC acquired a new position in Cummins in the fourth quarter worth $29,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins during the second quarter valued at $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CMI shares. Raymond James Financial raised their price target on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $565.00 to $850.00 in a research report on Monday, June 8th. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Citigroup increased their price target on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Cummins has an average rating of “Moderate Buy” and an average target price of $726.14.

Insider Buying and Selling

In other Cummins news, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Nathan R. Stoner sold 607 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $694.06, for a total transaction of $421,294.42. Following the transaction, the vice president owned 9,447 shares of the company’s stock, valued at approximately $6,556,784.82. This trade represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by corporate insiders.

Cummins Trading Up 3.0%

Shares of NYSE:CMI opened at $679.66 on Tuesday. The company has a 50 day moving average of $651.02 and a 200-day moving average of $585.26. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market cap of $93.79 billion, a P/E ratio of 35.27, a P/E/G ratio of 1.61 and a beta of 1.24. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08.

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

Cummins Announces Dividend

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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s payout ratio is currently 41.52%.

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.