Cummins Inc. (NYSE:CMI) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its stake in Cummins Inc. (NYSE:CMI) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,927 shares of the company’s stock after selling 1,460 shares during the period. Atria Investments Inc’s holdings in Cummins were worth $4,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised its position 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 raised its position 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 raised its position 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 raised its position 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, Equitable Trust Co. raised its position in shares of Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.8 %

Cummins stock opened at $341.97 on Friday. 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 Inc. has a 1-year low of $260.88 and a 1-year high of $387.90. The company has a market cap of $47.01 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The stock’s 50 day moving average price is $361.77 and its 200 day moving average price is $345.91.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.14 earnings per share. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.13%. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus 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.