Peloton Wealth Strategists Sells 252 Shares of Cummins Inc. (NYSE:CMI)

Peloton Wealth Strategists reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,778 shares of the company’s stock after selling 252 shares during the period. Cummins makes up approximately 1.8% of Peloton Wealth Strategists’ portfolio, making the stock its 18th largest position. Peloton Wealth Strategists’ holdings in Cummins were worth $4,454,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. KG&L Capital Management LLC grew its stake in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its stake in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares in the last quarter. Avestar Capital LLC grew its stake in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after acquiring an additional 31 shares in the last quarter. Finally, Equitable Trust Co. grew its stake in shares of Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 0.6 %

CMI stock opened at $364.35 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a fifty day moving average price of $361.99 and a two-hundred day moving average price of $343.63. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The stock has a market cap of $50.09 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the business posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently announced 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $386.67.

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.