Boyd Watterson Asset Management LLC OH Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

Boyd Watterson Asset Management LLC OH lowered its position in Cummins Inc. (NYSE:CMI) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,461 shares of the company’s stock after selling 49 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Cummins were worth $590,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Syon Capital LLC increased its position in shares of Cummins by 41.4% in the fourth quarter. Syon Capital LLC now owns 3,299 shares of the company’s stock valued at $790,000 after buying an additional 966 shares in the last quarter. Two Point Capital Management Inc. purchased a new position in shares of Cummins in the fourth quarter valued at $7,689,000. Eley Financial Management Inc boosted its stake in shares of Cummins by 0.6% during the fourth quarter. Eley Financial Management Inc now owns 15,647 shares of the company’s stock valued at $3,749,000 after acquiring an additional 92 shares during the last quarter. Bailard Inc. boosted its stake in shares of Cummins by 2.1% during the fourth quarter. Bailard Inc. now owns 54,489 shares of the company’s stock valued at $13,054,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Cummins by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,012 shares of the company’s stock valued at $2,878,000 after acquiring an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now owns 1,068 shares in the company, valued at $284,696.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Daniel William Fisher purchased 562 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Corporate insiders own 0.56% of the company’s stock.

Cummins Trading Down 0.2 %

Shares of Cummins stock traded down $0.47 on Friday, reaching $291.14. 480,216 shares of the company were exchanged, compared to its average volume of 917,274. The stock has a fifty day moving average price of $283.34 and a 200-day moving average price of $250.62. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 56.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.04. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $4.52 earnings per share. On average, analysts expect that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 129.73%.

Analyst Ratings Changes

A number of analysts recently commented on CMI shares. Truist Financial started coverage on Cummins in a research note on Thursday, March 14th. They set a “hold” rating and a $303.00 price objective on the stock. Morgan Stanley started coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. Citigroup lifted their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. TD Cowen lifted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $243.00 to $225.00 in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus price target of $279.70.

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.