Cummins Inc. (NYSE:CMI) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,554 shares of the company’s stock after selling 1,497 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Cummins were worth $4,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC boosted 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 valued at $26,000 after acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Cummins during the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter valued at about $32,000. Friedenthal Financial acquired a new position in shares of Cummins during the 4th quarter valued at about $55,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.2 %

CMI stock opened at $373.71 on Friday. The company’s 50 day moving average price is $361.20 and its 200 day moving average price is $338.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. Cummins Inc. has a fifty-two week low of $259.06 and a fifty-two week high of $387.90. The firm has a market capitalization of $51.38 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last released its 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 firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm earned $4.14 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMI shares. Robert W. Baird boosted their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and an average price target of $383.08.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

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.