Hexagon Capital Partners LLC Has $34,000 Holdings in Cummins Inc. (NYSE:CMI)

Hexagon Capital Partners LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 45.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116 shares of the company’s stock after selling 96 shares during the period. Hexagon Capital Partners LLC’s holdings in Cummins were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Cummins by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after purchasing an additional 2,055,239 shares in the last quarter. Norges Bank bought a new stake in Cummins in the 4th quarter valued at $298,867,000. International Assets Investment Management LLC boosted its stake in Cummins by 21,025.8% in the 4th quarter. International Assets Investment Management LLC now owns 735,177 shares of the company’s stock worth $176,126,000 after purchasing an additional 731,697 shares during the period. iA Global Asset Management Inc. bought a new position in Cummins during the 3rd quarter worth about $71,268,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cummins by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,343,678 shares of the company’s stock valued at $1,759,326,000 after purchasing an additional 246,025 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cummins news, VP Marvin Boakye bought 1,745 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the acquisition, the vice president now directly owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the company from $254.00 to $321.00 in a report on Friday, March 15th. Citigroup initiated coverage on Cummins in a research report on Wednesday, June 26th. They set a “buy” rating and a $320.00 price target on the stock. Finally, TD Cowen increased their price objective on Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and an average target price of $287.55.

Cummins Stock Down 1.7 %

Shares of CMI opened at $272.29 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The stock has a market capitalization of $37.24 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.73 and a beta of 0.99. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $304.24. The stock has a fifty day moving average of $282.30 and a 200-day moving average of $269.13.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. As a group, sell-side analysts anticipate that Cummins Inc. will post 18.84 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio is presently 49.19%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.