Atria Investments Inc lessened its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,927 shares of the company's stock after selling 1,460 shares during the period. Atria Investments Inc's holdings in Cummins were worth $4,506,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department acquired a new position in shares of Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new stake in Cummins during the 4th quarter worth $30,000. Finally, Prospera Private Wealth LLC bought a new position in Cummins during the third quarter worth about $32,000. Institutional investors and hedge funds own 83.46% of the company's stock.
Cummins Stock Down 0.8 %
CMI traded down $2.89 on Friday, hitting $341.97. 1,399,031 shares of the company were exchanged, compared to its average volume of 857,471. The stock's fifty day moving average is $361.77 and its 200-day moving average is $345.91. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market cap of $47.01 billion, a PE ratio of 12.14, a PEG ratio of 2.19 and a beta of 1.00.
Cummins (NYSE:CMI - Get Free Report) last announced 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 company had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.14 EPS. Equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Cummins presently has an average rating of "Hold" and an average price target of $386.67.
Read Our Latest Report on Cummins
About Cummins
(
Free Report)
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.
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