Eley Financial Management Inc Sells 94 Shares of Cummins Inc. (NYSE:CMI)

Eley Financial Management Inc trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,463 shares of the company’s stock after selling 94 shares during the quarter. Cummins accounts for 2.1% of Eley Financial Management Inc’s investment portfolio, making the stock its 13th largest holding. Eley Financial Management Inc’s holdings in Cummins were worth $5,390,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CMI. Centiva Capital LP bought a new stake in Cummins in the 3rd quarter worth about $205,000. Wellington Management Group LLP grew its stake in Cummins by 51.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,289 shares of the company’s stock valued at $1,389,000 after purchasing an additional 1,462 shares during the period. MML Investors Services LLC grew its stake in Cummins by 4.9% in the 3rd quarter. MML Investors Services LLC now owns 16,154 shares of the company’s stock valued at $5,231,000 after purchasing an additional 758 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Cummins by 4.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 40,826 shares of the company’s stock worth $13,219,000 after purchasing an additional 1,732 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in Cummins by 18.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,551 shares of the company’s stock worth $843,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. UBS Group cut Cummins from a “buy” rating to a “sell” rating and dropped their price target for the company from $400.00 to $240.00 in a research report on Monday. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Citigroup cut their target price on shares of Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Truist Financial dropped their price target on shares of Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $359.75.

Cummins Stock Performance

CMI stock opened at $281.35 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $387.90. The company has a market cap of $38.75 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The stock’s fifty day moving average price is $337.17 and its 200-day moving average price is $347.05.

Cummins (NYSE:CMI) last released 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 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 period in the previous year, the business earned $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.59%. The ex-dividend date was 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.