Schechter Investment Advisors LLC Sells 75 Shares of Cummins Inc. (NYSE:CMI)

Schechter Investment Advisors LLC lowered its position in Cummins Inc. (NYSE:CMI) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,749 shares of the company’s stock after selling 75 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Cummins were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Mariner Investment Group LLC purchased a new position in shares of Cummins during the fourth quarter worth approximately $1,046,000. Alpha DNA Investment Management LLC purchased a new position in shares of Cummins during the third quarter worth approximately $748,000. Franklin Resources Inc. increased its position in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the period. Bank of Montreal Can increased its position in shares of Cummins by 21.2% during the third quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after acquiring an additional 68,627 shares during the period. Finally, Hancock Whitney Corp increased its position in shares of Cummins by 545.1% during the third quarter. Hancock Whitney Corp now owns 38,630 shares of the company’s stock worth $12,508,000 after acquiring an additional 32,642 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CMI shares. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $386.67.

Cummins Stock Performance

Shares of CMI stock opened at $355.81 on Tuesday. The business’s fifty day simple moving average is $362.41 and its 200-day simple moving average is $345.30. The company has a market cap of $48.92 billion, a PE ratio of 12.63, a PEG ratio of 2.19 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.14 earnings per share. Analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.