Cummins Inc. (NYSE:CMI) Shares Sold by Beacon Investment Advisors LLC

Beacon Investment Advisors LLC decreased its holdings in Cummins Inc. (NYSE:CMI) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,956 shares of the company’s stock after selling 560 shares during the quarter. Beacon Investment Advisors LLC’s holdings in Cummins were worth $1,728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMI. Advisory Resource Group grew its position in shares of Cummins by 1.0% in the third quarter. Advisory Resource Group now owns 15,328 shares of the company’s stock valued at $4,963,000 after purchasing an additional 155 shares during the period. SkyView Investment Advisors LLC grew its position in Cummins by 3.9% in the third quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company’s stock worth $1,727,000 after acquiring an additional 202 shares during the period. Stock Yards Bank & Trust Co. increased its stake in Cummins by 1.8% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company’s stock worth $1,648,000 after acquiring an additional 88 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in Cummins in the 3rd quarter valued at about $209,000. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Cummins by 18.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,990 shares of the company’s stock worth $1,616,000 after purchasing an additional 794 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 0.3 %

Shares of CMI opened at $281.37 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $326.83 and a 200-day simple moving average of $345.52. The stock has a market cap of $38.76 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the business earned $4.14 earnings per share. Cummins’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.59%. Cummins’s payout ratio is currently 25.84%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMI shares. UBS Group lowered Cummins from a “buy” rating to a “sell” rating and reduced their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Bank of America upgraded 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 research note on Tuesday, January 14th. Truist Financial cut their target price on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Citigroup dropped their target price on shares of Cummins from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $346.00.

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.