IHT Wealth Management LLC Sells 3,475 Shares of Cummins Inc. (NYSE:CMI)

IHT Wealth Management LLC decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,614 shares of the company's stock after selling 3,475 shares during the period. IHT Wealth Management LLC's holdings in Cummins were worth $1,260,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CMI. Norges Bank bought a new position in Cummins in the 4th quarter worth approximately $499,490,000. Raymond James Financial Inc. bought a new position in Cummins during the fourth quarter worth $187,082,000. Vanguard Group Inc. raised its stake in Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after purchasing an additional 250,650 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Cummins by 57.0% in the 4th quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock valued at $224,317,000 after purchasing an additional 233,694 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Cummins in the 4th quarter worth $71,279,000. 83.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of recent research reports. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Barclays boosted their price objective on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their target price for the company from $400.00 to $240.00 in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cummins has an average rating of "Hold" and a consensus target price of $346.00.

Cummins Trading Up 0.3 %

Shares of CMI traded up $0.98 during trading hours on Monday, hitting $294.24. 844,936 shares of the stock traded hands, compared to its average volume of 912,570. The business has a fifty day moving average of $318.12 and a 200-day moving average of $343.89. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $40.53 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results 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 analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.14 EPS. Analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is currently 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.