Cummins Inc. (NYSE:CMI) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,365 shares of the company’s stock after selling 3,129 shares during the quarter. Corient Private Wealth LLC owned approximately 0.24% of Cummins worth $113,075,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Cummins during the fourth quarter valued at $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. purchased a new stake in Cummins during the 4th quarter worth about $30,000. Finally, Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter valued at about $32,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $392.64.

Cummins Trading Up 3.0 %

Shares of CMI stock opened at $322.24 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The firm’s 50 day moving average price is $359.39 and its two-hundred day moving average price is $347.16. The stock has a market cap of $44.30 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the business posted $4.14 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s dividend payout ratio (DPR) is currently 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.