Transamerica Financial Advisors Inc. Has $1.15 Million Stock Position in Cummins Inc. (NYSE:CMI)

Transamerica Financial Advisors Inc. lowered its position in Cummins Inc. (NYSE:CMI) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,284 shares of the company’s stock after selling 676 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Cummins were worth $1,145,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cummins in the fourth quarter valued at approximately $499,490,000. Raymond James Financial Inc. bought a new position in Cummins during the 4th quarter worth about $187,082,000. Vanguard Group Inc. lifted its holdings in shares of Cummins by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after purchasing an additional 250,650 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Cummins during the fourth quarter worth about $71,279,000. Finally, Amundi boosted its position in shares of Cummins by 32.3% during the fourth quarter. Amundi now owns 771,038 shares of the company’s stock worth $277,381,000 after buying an additional 188,254 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Truist Financial boosted 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. Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group cut their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $389.50.

Cummins Stock Performance

CMI opened at $313.45 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The business has a 50 day moving average of $352.17 and a 200-day moving average of $348.41. The stock has a market cap of $43.09 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.19 and a beta of 1.01.

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

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.32%. Cummins’s dividend payout ratio (DPR) 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.