Fiduciary Group LLC Sells 410 Shares of Cummins Inc. (NYSE:CMI)

Fiduciary Group LLC reduced its position in Cummins Inc. (NYSE:CMI) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,425 shares of the company’s stock after selling 410 shares during the quarter. Fiduciary Group LLC’s holdings in Cummins were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Bison Wealth LLC boosted its position in shares of Cummins by 3.6% during the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after acquiring an additional 42 shares during the last quarter. KB Financial Partners LLC boosted its position in shares of Cummins by 1.3% during the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after acquiring an additional 45 shares during the last quarter. Edmp Inc. boosted its position in shares of Cummins by 0.8% during the fourth quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after acquiring an additional 46 shares during the last quarter. Ledge Wealth Management Inc. boosted its position in shares of Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after acquiring an additional 48 shares during the last quarter. Finally, Peloton Wealth Strategists lifted its position in Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after purchasing an additional 50 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Down 0.2 %

Shares of CMI opened at $291.14 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 1.98 and a beta of 1.04. The company has a 50-day moving average of $283.34 and a 200 day moving average of $250.92. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the previous year, the firm earned $4.52 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 129.73%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. TD Cowen increased their price objective on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their price objective for the company from $254.00 to $321.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Finally, Evercore ISI increased their target price on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $279.70.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Rumsey sold 739 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the sale, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,289 shares of company stock valued at $13,576,838. Insiders own 0.56% of the company’s stock.

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.