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

Retirement Guys Formula LLC decreased its position in shares of Cummins Inc. (NYSE:CMI) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,669 shares of the company’s stock after selling 78 shares during the quarter. Retirement Guys Formula LLC’s holdings in Cummins were worth $1,628,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC boosted its holdings in shares of Cummins by 59.6% during the fourth 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 period. Compass Financial Services Inc bought a new stake in shares of Cummins during the fourth quarter valued at about $27,000. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the third quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins during the third quarter valued at about $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins during the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMI. Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird boosted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $383.08.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Cummins Trading Down 0.4 %

Shares of CMI opened at $372.38 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $250.90 and a 1-year high of $387.90. The business’s 50-day moving average price is $361.74 and its 200 day moving average price is $337.16. The stock 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.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.14 EPS. Analysts expect that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders 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 dividend yield of 1.96%. Cummins’s dividend payout ratio is 25.84%.

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.