VisionPoint Advisory Group LLC Sells 45 Shares of Cummins Inc. (NYSE:CMI)

VisionPoint Advisory Group LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,030 shares of the company’s stock after selling 45 shares during the period. VisionPoint Advisory Group LLC’s holdings in Cummins were worth $1,401,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CMI. Global Trust Asset Management LLC raised its holdings 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 valued at $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc purchased a new position in Cummins in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter worth approximately $32,000. Kestra Investment Management LLC purchased a new position in Cummins in the 4th quarter worth approximately $43,000. Finally, Ashton Thomas Securities LLC purchased a new position in Cummins in the 3rd quarter worth approximately $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 0.3 %

Cummins stock opened at $384.73 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $361.52 and its two-hundred day simple moving average is $341.12. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 in the previous year, the company posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $386.67.

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.