Thrivent Financial for Lutherans Sells 14,808 Shares of Cummins Inc. (NYSE:CMI)

Thrivent Financial for Lutherans lessened its holdings in Cummins Inc. (NYSE:CMI) by 34.4% during the fourth quarter, Holdings Channel reports. The fund owned 28,214 shares of the company’s stock after selling 14,808 shares during the period. Thrivent Financial for Lutherans’ holdings in Cummins were worth $9,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department bought a new stake in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc bought a new position in Cummins during the 4th quarter worth $27,000. TCTC Holdings LLC bought a new position in Cummins during the 4th quarter worth $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins during the 4th quarter worth $30,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. UBS Group reduced their target price on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird increased their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $389.50.

Cummins Stock Performance

NYSE:CMI opened at $321.78 on Friday. The stock’s 50-day simple moving average is $355.99 and its 200 day simple moving average is $347.41. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The firm has a market capitalization of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the firm posted $4.14 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 25.84%.

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.