Securian Asset Management Inc. Sells 141 Shares of Cummins Inc. (NYSE:CMI)

Securian Asset Management Inc. reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,393 shares of the company’s stock after selling 141 shares during the period. Securian Asset Management Inc.’s holdings in Cummins were worth $2,577,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Global Trust Asset Management LLC grew its stake 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. KG&L Capital Management LLC grew its stake in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its stake in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares in the last quarter. Avestar Capital LLC grew its stake in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after acquiring an additional 31 shares in the last quarter. Finally, Mayflower Financial Advisors LLC grew its stake in shares of Cummins by 2.0% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock worth $568,000 after acquiring an additional 32 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 0.4 %

Shares of Cummins stock opened at $330.64 on Thursday. The business has a fifty day simple moving average of $360.73 and a two-hundred day simple moving average of $346.75. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The company has a market capitalization of $45.46 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share 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 during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm earned $4.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CMI shares. Truist Financial increased their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently 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.