Brandywine Global Investment Management LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,276 shares of the company's stock after selling 6,119 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of Cummins worth $29,030,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC lifted its holdings in shares of Cummins by 59.6% during 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. BankPlus Trust Department purchased a new position in Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins during the fourth quarter worth about $27,000. TCTC Holdings LLC purchased a new stake in shares of Cummins in the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Cummins in the fourth quarter valued at about $30,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.
Cummins Stock Performance
NYSE:CMI traded down $17.53 during trading hours on Friday, reaching $277.82. 1,466,012 shares of the stock were exchanged, compared to its average volume of 805,871. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. 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 stock has a market capitalization of $38.19 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.19 and a beta of 1.01. The firm has a 50 day simple moving average of $345.89 and a 200-day simple moving average of $348.27.
Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 earnings per share. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.62%. Cummins's dividend payout ratio (DPR) is 25.84%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CMI. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Barclays upped their target price 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. Citigroup dropped their price target on shares of Cummins from $430.00 to $360.00 and set a "buy" rating on the stock in a research note on Monday. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird raised 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. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cummins presently has a consensus rating of "Hold" and a consensus target price of $383.67.
Get Our Latest Analysis on Cummins
About Cummins
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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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