Cummins Inc. (NYSE:CMI) Holdings Trimmed by Financial Counselors Inc.

Financial Counselors Inc. lowered its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 62.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,281 shares of the company's stock after selling 2,112 shares during the quarter. Financial Counselors Inc.'s holdings in Cummins were worth $447,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. boosted its position in Cummins by 8.4% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,131 shares of the company's stock valued at $1,789,000 after buying an additional 396 shares during the last quarter. PKS Advisory Services LLC purchased a new position in Cummins in the fourth quarter valued at about $510,000. Princeton Capital Management LLC acquired a new stake in Cummins during the 4th quarter valued at approximately $205,000. Modern Wealth Management LLC purchased a new stake in Cummins during the 4th quarter worth approximately $208,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Cummins in the 4th quarter valued at approximately $143,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Cummins from $430.00 to $360.00 and set a "buy" rating for the company in a research note on Monday. Truist Financial increased their price target 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. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and upped their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $383.67.

Cummins Price Performance

Shares of Cummins stock traded up $3.89 on Wednesday, hitting $319.25. The company had a trading volume of 148,760 shares, compared to its average volume of 883,079. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a market cap of $43.89 billion, a PE ratio of 11.32, a PEG ratio of 2.19 and a beta of 1.01. The business has a 50-day simple moving average of $350.07 and a 200-day simple moving average of $349.00. Cummins Inc. has a 52 week low of $261.51 and a 52 week 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, beating the consensus estimate of $4.70 by $0.46. The business 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% on a year-over-year basis. During the same period in the prior year, the business earned $4.14 earnings per share. Research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 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.