Cummins Inc. (NYSE:CMI) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in Cummins Inc. (NYSE:CMI) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,706 shares of the company’s stock after selling 299 shares during the period. Avantax Advisory Services Inc.’s holdings in Cummins were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CMI. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cummins in the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CMI. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $392.64.

Cummins Trading Up 3.0 %

CMI opened at $322.24 on Monday. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The company has a market cap of $44.30 billion, a P/E ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The business’s 50-day simple moving average is $359.39 and its 200-day simple moving average is $347.16.

Cummins (NYSE:CMI) last released 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 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 the consensus estimate of $8.06 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced 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 was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s dividend payout ratio (DPR) is presently 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.