Cummins Inc. (NYSE:CMI) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV reduced its holdings in Cummins Inc. (NYSE:CMI) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,715 shares of the company’s stock after selling 72 shares during the period. Forte Capital LLC ADV’s holdings in Cummins were worth $2,689,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Cummins in the 4th quarter worth about $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the 3rd quarter worth about $32,000. Kestra Investment Management LLC bought a new stake in Cummins in the 4th quarter valued at about $43,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at about $55,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Down 0.3 %

CMI stock opened at $384.73 on Friday. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The company’s 50 day simple moving average is $361.52 and its 200-day simple moving average is $341.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market capitalization of $52.89 billion, a P/E ratio of 13.66, a P/E/G ratio of 2.16 and a beta of 1.00.

Cummins (NYSE:CMI) last released its quarterly 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. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.14 earnings per share. As a group, equities research analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Truist Financial lifted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $386.67.

Cummins Company 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.