Blue Trust Inc. Has $291,000 Stake in Cummins Inc. (NYSE:CMI)

Blue Trust Inc. reduced its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 834 shares of the company's stock after selling 696 shares during the period. Blue Trust Inc.'s holdings in Cummins were worth $291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Cummins during the fourth quarter worth about $27,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins in the third quarter worth about $32,000. Friedenthal Financial purchased a new position in Cummins in the fourth quarter valued at about $55,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Cummins during the 3rd quarter valued at approximately $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CMI. Barclays increased their target price on 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 increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. StockNews.com downgraded Cummins from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Cummins has an average rating of "Hold" and an average price target of $386.67.

Cummins Price Performance

NYSE:CMI traded down $15.78 during midday trading on Friday, hitting $366.79. 802,298 shares of the stock were exchanged, compared to its average volume of 826,661. The business has a 50-day moving average price of $361.52 and a two-hundred day moving average price of $341.12. 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 company has a market capitalization of $50.43 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00. Cummins Inc. has a one year low of $259.06 and a one year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly 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 quarter in the previous year, the business earned $4.14 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Cummins's payout ratio is 25.84%.

About Cummins

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.