Beacon Financial Group Sells 31 Shares of Cummins Inc. (NYSE:CMI)

Beacon Financial Group cut its holdings in Cummins Inc. (NYSE:CMI) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,759 shares of the company’s stock after selling 31 shares during the period. Beacon Financial Group’s holdings in Cummins were worth $613,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Cummins in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter valued at approximately $32,000. Friedenthal Financial bought a new position in shares of Cummins in the fourth quarter valued at approximately $55,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Cummins in the third quarter valued at approximately $55,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 2.3 %

NYSE:CMI opened at $364.08 on Thursday. The company has a market cap of $49.94 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.10 and a beta of 1.00. The stock’s fifty day moving average price is $361.68 and its two-hundred day moving average price is $337.74. Cummins Inc. has a 1 year low of $250.90 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the business posted $4.14 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.00%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CMI shares. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.08.

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.