BI Asset Management Fondsmaeglerselskab A S Sells 1,876 Shares of Cummins Inc. (NYSE:CMI)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,742 shares of the company's stock after selling 1,876 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Cummins were worth $4,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMI. Global Trust Asset Management LLC boosted its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the fourth quarter worth about $27,000. Meeder Asset Management Inc. lifted its holdings in shares of Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC bought a new position in shares of Cummins during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CMI shares. Robert W. Baird cut their price target on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Barclays boosted their price objective 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. StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Finally, Truist Financial lowered their target price on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $346.00.

Cummins Stock Performance

Shares of Cummins stock traded down $0.40 during trading on Friday, reaching $293.56. The company's stock had a trading volume of 576,425 shares, compared to its average volume of 805,598. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $319.84 and its 200-day moving average price is $343.98. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The firm has a market cap of $40.44 billion, a PE ratio of 10.42, a P/E/G ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) 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 business had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. During the same period in the previous year, the company posted $4.14 earnings per share. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.48%. Cummins's dividend payout ratio (DPR) is 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.