Cummins Inc. (NYSE:CMI) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,261 shares of the company’s stock after selling 522 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cummins were worth $3,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its holdings in Cummins by 3.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 56,403 shares of the company’s stock worth $19,662,000 after purchasing an additional 1,800 shares in the last quarter. Harfst & Associates Inc. grew its position in shares of Cummins by 27.3% in the 4th quarter. Harfst & Associates Inc. now owns 10,175 shares of the company’s stock valued at $3,547,000 after buying an additional 2,185 shares during the last quarter. Gibraltar Capital Management Inc. acquired a new stake in Cummins during the 4th quarter worth $7,076,000. DMKC Advisory Services LLC purchased a new stake in Cummins in the fourth quarter valued at $1,978,000. Finally, Advisor OS LLC boosted its stake in Cummins by 68.9% in the fourth quarter. Advisor OS LLC now owns 2,470 shares of the company’s stock valued at $861,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.0 %

CMI stock opened at $367.90 on Friday. The stock has a market capitalization of $50.58 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a fifty day moving average of $362.32 and a 200-day moving average of $344.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm earned $4.14 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. Cummins’s payout ratio is currently 25.84%.

Analysts Set New Price Targets

A number of research firms have recently commented on CMI. Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. 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. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average target price of $386.67.

Cummins 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.