OneDigital Investment Advisors LLC lessened its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 47.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,245 shares of the company's stock after selling 3,812 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Cummins were worth $1,480,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the fourth 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 period. BankPlus Trust Department purchased a new position in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc purchased a new position in Cummins during the 4th quarter worth $27,000. Meeder Asset Management Inc. increased its stake in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC acquired a new stake in Cummins in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on CMI. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and raised their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. 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 report on Friday, April 11th. UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Citigroup decreased their price objective on shares of Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial dropped their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $346.00.
Check Out Our Latest Stock Analysis on Cummins
Cummins Price Performance
Cummins stock traded down $1.34 during mid-day trading on Tuesday, hitting $292.88. 627,608 shares of the company were exchanged, compared to its average volume of 806,642. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90. The company has a market capitalization of $40.34 billion, a P/E ratio of 10.40, a PEG ratio of 2.19 and a beta of 1.07. The business's 50 day simple moving average is $316.28 and its two-hundred day simple moving average is $343.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.
Cummins (NYSE:CMI - Get Free Report) last posted 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 analysts' expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 EPS. Analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The company 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. This represents a $7.28 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio is 25.84%.
Cummins Company Profile
(
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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