Aurora Investment Counsel Sells 2,651 Shares of Cummins Inc. (NYSE:CMI)

Aurora Investment Counsel reduced its holdings in Cummins Inc. (NYSE:CMI) by 44.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,283 shares of the company’s stock after selling 2,651 shares during the quarter. Aurora Investment Counsel’s holdings in Cummins were worth $1,144,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CMI. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the 3rd quarter worth about $55,000. Victory Capital Management Inc. lifted its holdings in Cummins by 25.4% in the third quarter. Victory Capital Management Inc. now owns 217,689 shares of the company’s stock worth $70,486,000 after buying an additional 44,027 shares during the period. Haverford Trust Co grew its holdings in shares of Cummins by 6.2% during the 3rd quarter. Haverford Trust Co now owns 1,740 shares of the company’s stock worth $563,000 after acquiring an additional 102 shares during the period. Main Street Financial Solutions LLC raised its position in shares of Cummins by 38.0% in the 3rd quarter. Main Street Financial Solutions LLC now owns 1,879 shares of the company’s stock worth $608,000 after acquiring an additional 517 shares in the last quarter. Finally, Curi RMB Capital LLC purchased a new position in shares of Cummins in the 3rd quarter valued at approximately $243,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

CMI opened at $312.65 on Friday. The company’s 50-day simple moving average is $360.03 and its two-hundred day simple moving average is $346.51. 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 stock has a market capitalization of $42.98 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90.

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

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid 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 2.33%. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CMI. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $386.67.

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.