Strengthening Families & Communities LLC Decreases Position in Cummins Inc. (NYSE:CMI)

Strengthening Families & Communities LLC cut its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 96.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313 shares of the company's stock after selling 8,564 shares during the period. Strengthening Families & Communities LLC's holdings in Cummins were worth $109,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company's stock worth $3,908,000 after purchasing an additional 1,786 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Cummins by 8.9% during the 3rd quarter. Ritholtz Wealth Management now owns 5,952 shares of the company's stock valued at $1,927,000 after buying an additional 484 shares in the last quarter. Carnegie Investment Counsel grew its stake in Cummins by 6.1% in the 3rd quarter. Carnegie Investment Counsel now owns 21,762 shares of the company's stock valued at $7,046,000 after acquiring an additional 1,257 shares during the period. Exchange Traded Concepts LLC increased its holdings in Cummins by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 408 shares of the company's stock worth $132,000 after acquiring an additional 227 shares in the last quarter. Finally, Douglas Lane & Associates LLC acquired a new position in Cummins during the third quarter worth $201,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company's stock, valued at $7,540,879.47. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,327 shares of company stock valued at $1,582,821 in the last ninety days. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Truist Financial increased their target price on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Barclays lifted their price target on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Cummins currently has an average rating of "Hold" and an average price target of $383.08.

Cummins Trading Down 0.4 %

CMI stock traded down $1.53 during mid-day trading on Tuesday, hitting $372.38. 580,073 shares of the company were exchanged, compared to its average volume of 849,258. Cummins Inc. has a 12-month low of $250.90 and a 12-month high of $387.90. The firm has a market capitalization of $51.08 billion, a P/E ratio of 13.22, a PEG ratio of 2.10 and a beta of 1.00. The business has a fifty day simple moving average of $361.74 and a 200-day simple moving average of $337.16. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI - Get Free Report) last announced its 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 return on equity of 27.12% and a net margin of 11.57%. The company 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 company earned $4.14 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal 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 issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.96%. Cummins's dividend payout ratio (DPR) is currently 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.