Cummins Inc. (NYSE:CMI) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 531 shares of the company’s stock after selling 155 shares during the period. Sentry Investment Management LLC’s holdings in Cummins were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. PFG Investments LLC boosted its position in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the last quarter. Mariner Investment Group LLC acquired a new position in shares of Cummins in the 4th quarter valued at $1,046,000. Alpha DNA Investment Management LLC acquired a new position in shares of Cummins in the 3rd quarter valued at $748,000. Franklin Resources Inc. grew its stake in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after buying an additional 68,627 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI stock opened at $360.91 on Wednesday. The firm has a fifty day simple moving average of $361.37 and a 200-day simple moving average of $343.32. The company has a market capitalization of $49.62 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a twelve month low of $260.88 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm 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%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.14 EPS. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $386.67.

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.