Cummins Inc. (NYSE:CMI) Stock Position Lowered by Blue Trust Inc.

Blue Trust Inc. lessened its position in Cummins Inc. (NYSE:CMI) by 45.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 834 shares of the company’s stock after selling 696 shares during the quarter. Blue Trust Inc.’s holdings in Cummins were worth $291,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the 4th 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 purchased a new stake in Cummins in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $32,000. Friedenthal Financial purchased a new stake in Cummins in the 4th quarter worth approximately $55,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $379.21 on Wednesday. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90. The firm’s fifty day simple moving average is $360.89 and its 200 day simple moving average is $339.87. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $52.02 billion, a PE ratio of 13.46, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the business posted $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders 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 yield of 1.92%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Robert W. Baird increased their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $383.08.

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.