Thrivent Financial for Lutherans Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

Thrivent Financial for Lutherans decreased its position in Cummins Inc. (NYSE:CMI - Free Report) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,214 shares of the company's stock after selling 14,808 shares during the quarter. Thrivent Financial for Lutherans' holdings in Cummins were worth $9,950,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Fisher Asset Management LLC increased its position in Cummins by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock worth $1,071,059,000 after acquiring an additional 66,887 shares during the period. FMR LLC raised its stake in Cummins by 0.8% in the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company's stock worth $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Cummins by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock valued at $342,244,000 after purchasing an additional 120,579 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cummins by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,402 shares of the company's stock worth $308,303,000 after purchasing an additional 17,687 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

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Cummins Price Performance

NYSE CMI traded down $2.79 on Wednesday, hitting $328.08. The stock had a trading volume of 562,157 shares, compared to its average volume of 761,872. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. The firm has a 50-day moving average of $354.72 and a 200-day moving average of $348.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 EPS. Equities analysts expect that Cummins Inc. will post 22.54 EPS for the current 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 paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial boosted their price target on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Evercore ISI upped their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, UBS Group decreased their target price on shares of Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cummins currently has a consensus rating of "Hold" and a consensus target price of $389.50.

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.