Cummins Inc. (NYSE:CMI) Stock Holdings Trimmed by Private Advisor Group LLC

Private Advisor Group LLC lessened its position in shares of Cummins Inc. (NYSE:CMI) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,655 shares of the company’s stock after selling 1,342 shares during the period. Private Advisor Group LLC’s holdings in Cummins were worth $4,469,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bison Wealth LLC raised its holdings in shares of Cummins by 3.6% in the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after purchasing an additional 42 shares in the last quarter. KB Financial Partners LLC lifted its position in shares of Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after acquiring an additional 45 shares during the last quarter. Edmp Inc. boosted its stake in shares of Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after acquiring an additional 46 shares in the last quarter. Ledge Wealth Management Inc. boosted its stake in shares of Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after acquiring an additional 48 shares in the last quarter. Finally, Peloton Wealth Strategists grew its holdings in shares of Cummins by 0.4% in the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock worth $3,227,000 after acquiring an additional 50 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMI. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and increased their price target for the company from $254.00 to $321.00 in a research report on Friday, March 15th. The Goldman Sachs Group lifted their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and cut their target price for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Finally, Truist Financial raised their target price on Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $282.55.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction that occurred on 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 $5,987,628.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cummins news, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,169 shares of company stock worth $14,689,855. 0.56% of the stock is currently owned by insiders.

Cummins Stock Up 1.9 %

CMI opened at $294.58 on Friday. The company has a market capitalization of $40.29 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The business has a 50-day moving average of $286.48 and a 200-day moving average of $254.08. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last posted its 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). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the firm earned $4.52 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 18.45 EPS for the current fiscal year.

Cummins Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is 49.19%.

Cummins 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.