Cummins Inc. (NYSE:CMI) Stake Lowered by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 21,297 shares of the company’s stock after selling 712 shares during the period. Yousif Capital Management LLC’s holdings in Cummins were worth $5,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. NewSquare Capital LLC lifted its stake in shares of Cummins by 3.6% in the 4th quarter. NewSquare Capital LLC now owns 31,975 shares of the company’s stock valued at $7,595,000 after purchasing an additional 1,109 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Cummins in the 4th quarter valued at $250,000. Parkside Financial Bank & Trust lifted its stake in shares of Cummins by 9.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,648 shares of the company’s stock valued at $395,000 after purchasing an additional 145 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Cummins by 0.8% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,525 shares of the company’s stock valued at $2,279,000 after purchasing an additional 75 shares during the last quarter. Finally, Foster & Motley Inc. lifted its position in Cummins by 2.3% during the 4th quarter. Foster & Motley Inc. now owns 28,878 shares of the company’s stock worth $6,918,000 after acquiring an additional 656 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel William Fisher bought 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Daniel William Fisher bought 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the transaction, the chief executive officer now owns 2,698 shares in the company, valued at $720,123.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial assumed coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 target price for the company. Morgan Stanley initiated coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 target price for the company. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus target price of $279.70.

Cummins Stock Performance

NYSE CMI opened at $291.40 on Friday. The stock has a market cap of $39.85 billion, a P/E ratio of 56.25, a PEG ratio of 1.99 and a beta of 1.04. The company’s 50-day simple moving average is $282.84 and its 200 day simple moving average is $250.18. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.52 earnings per share. As a group, research analysts forecast that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.31%. Cummins’s dividend payout ratio is 129.73%.

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.