Cummins Inc. (NYSE:CMI) Shares Sold by Retirement Guys Formula LLC

Retirement Guys Formula LLC reduced its position in shares of Cummins Inc. (NYSE:CMI) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,669 shares of the company’s stock after selling 78 shares during the period. Retirement Guys Formula LLC’s holdings in Cummins were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC lifted its holdings 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 during the period. Compass Financial Services Inc purchased a new position in shares of Cummins during the 4th quarter worth about $27,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins during the 3rd quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth about $55,000. Finally, Friedenthal Financial purchased a new position in shares of Cummins during the 4th quarter worth about $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $383.08.

Cummins Trading Down 0.4 %

CMI opened at $372.38 on Wednesday. The firm has a market capitalization of $51.08 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.10 and a beta of 1.00. The firm’s 50 day moving average is $361.74 and its 200-day moving average is $337.16. Cummins Inc. has a 52-week low of $250.90 and a 52-week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. 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 company earned $4.14 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.96%. Cummins’s payout ratio is currently 25.84%.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

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.