VisionPoint Advisory Group LLC Decreases Stake in Cummins Inc. (NYSE:CMI)

VisionPoint Advisory Group LLC lowered its holdings in Cummins Inc. (NYSE:CMI) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,030 shares of the company’s stock after selling 45 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Cummins were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CMI. Signaturefd LLC raised its stake in shares of Cummins by 1.7% in the third quarter. Signaturefd LLC now owns 3,285 shares of the company’s stock worth $1,064,000 after purchasing an additional 56 shares during the last quarter. Eastern Bank purchased a new stake in Cummins during the third quarter valued at $365,000. Greenleaf Trust increased its position in Cummins by 3.9% during the third quarter. Greenleaf Trust now owns 8,068 shares of the company’s stock valued at $2,612,000 after acquiring an additional 303 shares during the last quarter. Wallington Asset Management LLC increased its position in Cummins by 6.0% during the third quarter. Wallington Asset Management LLC now owns 34,207 shares of the company’s stock valued at $11,076,000 after acquiring an additional 1,950 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMI. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group upped 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. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Stock Performance

NYSE CMI opened at $384.73 on Friday. The firm has a market cap of $52.89 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $361.52 and a 200-day moving average price of $341.12. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.14 earnings per share. As a group, equities research analysts predict that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

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

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.