Venturi Wealth Management LLC Has $1.85 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Venturi Wealth Management LLC raised its position in Cummins Inc. (NYSE:CMI) by 21.6% in the 4th quarter, HoldingsChannel reports. The fund owned 5,312 shares of the company’s stock after purchasing an additional 943 shares during the period. Venturi Wealth Management LLC’s holdings in Cummins were worth $1,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC raised its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Cummins in the 4th quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins during the 3rd quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial bought a new stake in Cummins in the fourth quarter valued at about $55,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.08.

Cummins Stock Performance

Cummins stock opened at $373.71 on Tuesday. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The stock has a 50-day simple moving average of $361.09 and a 200 day simple moving average of $339.39. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $51.27 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for 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%. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.14 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Insider Activity

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

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.