Kintegral Advisory LLC Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

Kintegral Advisory LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,741 shares of the company’s stock after selling 407 shares during the period. Kintegral Advisory LLC’s holdings in Cummins were worth $3,047,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Global Trust Asset Management LLC raised its position 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. Compass Financial Services Inc purchased a new position in shares of Cummins during the fourth quarter worth about $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the third quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in shares of Cummins in the 4th quarter valued at about $43,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins in the 4th quarter valued at about $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CMI shares. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Price Performance

CMI stock opened at $366.79 on Friday. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.20 and a beta of 1.00. 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 firm has a 50 day moving average of $361.51 and a 200-day moving average of $341.71. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results 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 return on equity of 27.12% and a net margin of 11.57%. The company 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 business earned $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Cummins Company 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.