Crumly & Associates Inc. Sells 800 Shares of Cummins Inc. (NYSE:CMI)

Crumly & Associates Inc. trimmed its position in Cummins Inc. (NYSE:CMI) by 35.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,474 shares of the company’s stock after selling 800 shares during the period. Crumly & Associates Inc.’s holdings in Cummins were worth $514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its position 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 in the last quarter. Compass Financial Services Inc bought a new stake in Cummins in the 4th quarter valued at about $27,000. Prospera Private Wealth LLC bought a new stake in Cummins in the 3rd quarter valued at about $32,000. Kestra Investment Management LLC bought a new stake in Cummins in the 4th quarter valued at about $43,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at about $55,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

Shares of NYSE CMI opened at $384.73 on Friday. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. 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 stock’s 50 day moving average price is $361.52 and its 200-day moving average price is $341.12. The company has a market capitalization of $52.89 billion, a PE ratio of 13.66, a PEG ratio of 2.20 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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 quarter in the prior year, the business earned $4.14 earnings per share. Cummins’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI boosted their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.