Royal London Asset Management Ltd. Sells 352 Shares of Cummins Inc. (NYSE:CMI)

Royal London Asset Management Ltd. reduced its stake in Cummins Inc. (NYSE:CMI) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,851 shares of the company’s stock after selling 352 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cummins were worth $19,470,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department purchased a new stake in Cummins in the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the 4th quarter worth $27,000. TCTC Holdings LLC purchased a new stake in Cummins in the 4th quarter worth $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Cummins in the 4th quarter worth $30,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 1.1 %

CMI opened at $321.78 on Friday. The firm has a market cap of $44.24 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $355.99 and a 200 day moving average of $347.12.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $4.14 earnings per share. As a group, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group cut their price target on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $389.50.

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.