Cummins Inc. (NYSE:CMI) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,273 shares of the company’s stock after selling 70 shares during the period. RWA Wealth Partners LLC’s holdings in Cummins were worth $792,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% during the fourth 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. BankPlus Trust Department acquired a new position in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the fourth quarter valued at about $27,000. TCTC Holdings LLC acquired a new stake in Cummins during the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in Cummins during the fourth quarter worth about $30,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial raised 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. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their target price 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. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cummins currently has an average rating of “Hold” and a consensus target price of $383.67.

Cummins Stock Down 0.3 %

Cummins stock opened at $313.11 on Tuesday. The firm has a market capitalization of $43.05 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The stock’s fifty day simple moving average is $351.11 and its 200-day simple moving average is $348.91.

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 analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the company earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.