Kessler Investment Group LLC Sells 101 Shares of Cummins Inc. (NYSE:CMI)

Kessler Investment Group LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,801 shares of the company’s stock after selling 101 shares during the quarter. Kessler Investment Group LLC’s holdings in Cummins were worth $628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC raised its position in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Cummins during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins during the 3rd quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth approximately $55,000. Finally, Friedenthal Financial purchased a new position in shares of Cummins during the 4th quarter worth approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CMI shares. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $383.08.

Cummins Stock Performance

Shares of CMI opened at $373.71 on Friday. The business’s fifty day simple moving average is $361.20 and its two-hundred day simple moving average is $338.14. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The company has a market cap of $51.27 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the business posted $4.14 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. Cummins’s payout ratio is 25.84%.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.

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.