Kestra Private Wealth Services LLC Buys 1,254 Shares of Cummins Inc. (NYSE:CMI)

Kestra Private Wealth Services LLC raised its position in Cummins Inc. (NYSE:CMI - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,711 shares of the company's stock after acquiring an additional 1,254 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Cummins were worth $1,991,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew 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 purchasing an additional 28 shares during the last quarter. KG&L Capital Management LLC lifted its position in shares of Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after purchasing an additional 28 shares during the period. Chicago Capital LLC lifted its position in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock worth $1,065,000 after purchasing an additional 30 shares during the period. Massachusetts Wealth Management lifted its position in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock worth $1,677,000 after purchasing an additional 30 shares during the period. Finally, Equitable Trust Co. lifted its position in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company's stock worth $298,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.

Cummins Price Performance

CMI stock traded up $4.39 during mid-day trading on Friday, reaching $373.71. 802,013 shares of the company traded hands, compared to its average volume of 888,607. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The company has a market capitalization of $51.27 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The company has a fifty day moving average price of $361.09 and a 200-day moving average price of $338.71.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 21st. Cummins's payout ratio is 25.84%.

Analyst Ratings Changes

Several analysts have recently commented on CMI shares. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. StockNews.com cut 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 target price on the stock. in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $383.08.

Cummins 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.