Cummins Inc. (NYSE:CMI) Stock Position Reduced by Private Advisor Group LLC

Private Advisor Group LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,939 shares of the company’s stock after selling 979 shares during the period. Private Advisor Group LLC’s holdings in Cummins were worth $6,253,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. FMR LLC lifted its holdings in shares of Cummins by 0.8% in the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 4.6 %

Shares of CMI stock opened at $366.79 on Friday. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90. The stock has a market cap of $50.43 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The business’s fifty day moving average is $361.51 and its 200-day moving average is $341.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) 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 analysts’ expectations of $8.06 billion. During the same period last year, the firm earned $4.14 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CMI shares. Barclays raised their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $386.67.

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.