Crumly & Associates Inc. Sells 800 Shares of Cummins Inc. (NYSE:CMI)

Crumly & Associates Inc. decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 35.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,474 shares of the company’s stock after selling 800 shares during the quarter. Crumly & Associates Inc.’s holdings in Cummins were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bradley Foster & Sargent Inc. CT raised its holdings in Cummins by 2.5% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,941 shares of the company’s stock valued at $1,025,000 after acquiring an additional 72 shares during the period. ING Groep NV raised its holdings in Cummins by 34.1% during the 4th quarter. ING Groep NV now owns 19,521 shares of the company’s stock valued at $6,805,000 after acquiring an additional 4,963 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Cummins by 296.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock valued at $4,128,000 after acquiring an additional 8,851 shares during the period. Advyzon Investment Management LLC bought a new stake in Cummins during the 4th quarter valued at $232,000. Finally, Handelsbanken Fonder AB raised its holdings in Cummins by 6.6% during the 4th quarter. Handelsbanken Fonder AB now owns 4,067 shares of the company’s stock valued at $1,418,000 after acquiring an additional 252 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.3 %

Shares of NYSE:CMI opened at $384.73 on Friday. The firm has a fifty day moving average of $361.52 and a 200 day moving average of $341.12. 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 Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The firm has a market capitalization of $52.89 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings results 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the business posted $4.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMI shares. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird upped their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $386.67.

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.