U.S. Capital Wealth Advisors LLC Decreases Stake in Cummins Inc. (NYSE:CMI)

U.S. Capital Wealth Advisors LLC lowered its stake in Cummins Inc. (NYSE:CMI) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,996 shares of the company’s stock after selling 2,342 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Cummins were worth $3,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in shares of Cummins by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 73,439 shares of the company’s stock worth $16,778,000 after acquiring an additional 2,377 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Cummins by 4.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,204 shares of the company’s stock valued at $7,586,000 after buying an additional 1,501 shares during the period. FinTrust Capital Advisors LLC grew its position in Cummins by 30.8% during the third quarter. FinTrust Capital Advisors LLC now owns 263 shares of the company’s stock valued at $60,000 after buying an additional 62 shares during the period. Raymond James & Associates grew its position in Cummins by 4.3% during the third quarter. Raymond James & Associates now owns 257,730 shares of the company’s stock valued at $58,881,000 after buying an additional 10,529 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in Cummins by 7.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,868 shares of the company’s stock valued at $36,295,000 after buying an additional 10,848 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 0.2 %

Shares of CMI stock traded up $0.45 during trading on Friday, reaching $280.74. The company’s stock had a trading volume of 1,058,929 shares, compared to its average volume of 954,800. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.74. The company has a market capitalization of $38.39 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.90 and a beta of 1.04. The stock’s 50-day moving average price is $285.06 and its 200 day moving average price is $252.19. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.52 EPS. On average, research analysts anticipate that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at approximately $19,545,052.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CMI shares. Truist Financial raised their price target on shares of Cummins from $303.00 to $319.00 and gave the company a “hold” rating in a research report on Friday. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. TD Cowen lifted their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group lifted their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $282.55.

About Cummins

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.