Cummins Inc. (NYSE:CMI) Stock Holdings Trimmed by Weybosset Research & Management LLC

Weybosset Research & Management LLC lowered its stake in Cummins Inc. (NYSE:CMI) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 41,824 shares of the company’s stock after selling 570 shares during the period. Cummins makes up approximately 5.0% of Weybosset Research & Management LLC’s portfolio, making the stock its 6th biggest holding. Weybosset Research & Management LLC’s holdings in Cummins were worth $14,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in CMI. State Street Corp lifted its holdings in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares during the period. Fisher Asset Management LLC increased its holdings in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after buying an additional 26,977 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after purchasing an additional 31,190 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last ninety days. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent research reports. Truist Financial raised their price objective on Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Citigroup upped their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Robert W. Baird increased their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $363.50.

Cummins Trading Down 0.9 %

CMI stock traded down $3.33 during mid-day trading on Friday, reaching $356.42. 105,082 shares of the stock traded hands, compared to its average volume of 472,029. The business has a 50-day moving average price of $361.38 and a two-hundred day moving average price of $323.95. The stock has a market capitalization of $48.89 billion, a PE ratio of 23.54, a PEG ratio of 1.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company posted $4.73 EPS. Cummins’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.04%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

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.