Bedel Financial Consulting Inc. Trims Holdings in Cummins Inc. (NYSE:CMI)

Bedel Financial Consulting Inc. decreased its position in shares of Cummins Inc. (NYSE:CMI) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,579 shares of the company’s stock after selling 34 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Cummins were worth $2,434,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in Cummins by 12.9% during the third quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock worth $405,000 after acquiring an additional 143 shares during the period. Gladstone Institutional Advisory LLC boosted its position in Cummins by 8.0% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,392 shares of the company’s stock worth $451,000 after purchasing an additional 103 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Cummins by 13.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,467 shares of the company’s stock worth $799,000 after purchasing an additional 288 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Cummins by 17.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,078 shares of the company’s stock valued at $356,000 after purchasing an additional 159 shares in the last quarter. Finally, Optas LLC acquired a new position in shares of Cummins in the 3rd quarter valued at $216,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $355.81 on Tuesday. Cummins Inc. has a twelve month low of $260.88 and a twelve month high of $387.90. The company has a market cap of $48.92 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.19 and a beta of 1.00. 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 company’s 50-day moving average price is $362.41 and its 200-day moving average price is $345.30.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the firm posted $4.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.05%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Barclays boosted their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.