Sanctuary Advisors LLC Sells 859 Shares of Cummins Inc. (NYSE:CMI)

Sanctuary Advisors LLC reduced its stake in Cummins Inc. (NYSE:CMI - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,656 shares of the company's stock after selling 859 shares during the period. Sanctuary Advisors LLC's holdings in Cummins were worth $12,105,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CMI. Catalyst Capital Advisors LLC boosted its stake in Cummins by 20.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 10,770 shares of the company's stock valued at $3,754,000 after buying an additional 1,850 shares during the period. Americana Partners LLC boosted its stake in Cummins by 9.5% during the fourth quarter. Americana Partners LLC now owns 2,773 shares of the company's stock valued at $967,000 after buying an additional 241 shares during the period. Monument Capital Management bought a new stake in Cummins during the fourth quarter valued at $216,000. J.W. Cole Advisors Inc. raised its position in Cummins by 3.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,398 shares of the company's stock valued at $1,185,000 after purchasing an additional 99 shares in the last quarter. Finally, Valmark Advisers Inc. raised its position in Cummins by 21.0% during the fourth quarter. Valmark Advisers Inc. now owns 854 shares of the company's stock valued at $298,000 after purchasing an additional 148 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMI has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Evercore ISI raised their price target on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday. Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Robert W. Baird raised their price target on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $386.67.

Cummins Stock Down 4.6 %

Shares of CMI traded down $17.60 during mid-day trading on Friday, reaching $366.79. The company had a trading volume of 802,298 shares, compared to its average volume of 826,870. The company has a market capitalization of $50.43 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.20 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 debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a 50-day moving average price of $361.52 and a 200 day moving average price of $341.12.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $4.14 EPS. On average, sell-side analysts forecast that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. 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.