Forte Capital LLC ADV Cuts Stock Holdings in Cummins Inc. (NYSE:CMI)

Forte Capital LLC ADV lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,715 shares of the company’s stock after selling 72 shares during the period. Forte Capital LLC ADV’s holdings in Cummins were worth $2,689,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. KG&L Capital Management LLC raised its stake in Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after purchasing an additional 28 shares during the period. Massachusetts Wealth Management raised its stake in Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after purchasing an additional 30 shares during the period. Avestar Capital LLC raised its stake in Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the period. Finally, Equitable Trust Co. raised its stake in Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CMI shares. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Price Performance

CMI opened at $384.73 on Friday. The company has a fifty day simple moving average of $361.52 and a 200 day simple moving average of $341.12. The firm has a market cap of $52.89 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.16 and a beta of 1.00. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $4.14 EPS. Equities research analysts expect that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. 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 is currently 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.