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

Corient Private Wealth LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 324,365 shares of the company’s stock after selling 3,129 shares during the quarter. Corient Private Wealth LLC’s holdings in Cummins were worth $113,075,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Global Trust Asset Management LLC raised its holdings in 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. BankPlus Trust Department acquired a new position in Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cummins in the 4th quarter valued at about $30,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Cummins during the third quarter worth about $32,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the subject of several research analyst reports. Barclays boosted 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. Evercore ISI boosted their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $392.64.

Cummins Price Performance

NYSE CMI opened at $322.24 on Monday. The company has a 50-day moving average price of $359.39 and a two-hundred day moving average price of $347.16. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. 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. 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 (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. The business had revenue of $8.45 billion during 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%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.14 EPS. Analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

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