Orion Portfolio Solutions LLC Sells 1,187 Shares of Cummins Inc. (NYSE:CMI)

Orion Portfolio Solutions LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,561 shares of the company’s stock after selling 1,187 shares during the period. Orion Portfolio Solutions LLC’s holdings in Cummins were worth $3,333,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department bought a new position in shares of Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins during the 4th quarter worth about $27,000. TCTC Holdings LLC bought a new stake in Cummins during the 4th quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins in the 4th quarter valued at approximately $30,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. reduced their price objective on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup cut their price objective on shares of Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a research report on Monday. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and an average target price of $383.67.

Cummins Price Performance

Cummins stock opened at $313.11 on Tuesday. The business has a 50 day simple moving average of $351.11 and a 200 day simple moving average of $348.91. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The company has a market capitalization of $43.05 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

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 net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the company earned $4.14 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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

About Cummins

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.