Cummins Inc. (NYSE:CMI) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,218 shares of the company’s stock after selling 5,565 shares during the period. Guggenheim Capital LLC owned approximately 0.07% of Cummins worth $34,936,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mariner Investment Group LLC acquired a new stake in Cummins in the fourth quarter worth about $1,046,000. FMR LLC raised its position in shares of Cummins by 5.7% in the 4th quarter. FMR LLC now owns 1,242,362 shares of the company’s stock valued at $433,087,000 after purchasing an additional 67,266 shares during the last quarter. National Bank of Canada FI boosted its stake in Cummins by 4.2% in the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company’s stock worth $28,359,000 after purchasing an additional 3,298 shares in the last quarter. Franklin Resources Inc. grew its position in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cummins by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company’s stock valued at $54,876,000 after purchasing an additional 6,107 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $288.10 on Tuesday. 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 52 week low of $260.02 and a 52 week high of $387.90. The stock’s 50-day moving average price is $333.97 and its 200-day moving average price is $346.72. The stock has a market capitalization of $39.68 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07.

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

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMI. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and dropped their price objective for the company from $400.00 to $240.00 in a report on Monday, April 7th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Truist Financial cut their price objective on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their target price on Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $354.17.

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.