Cummins Inc. (NYSE:CMI) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lowered its position in shares of Cummins Inc. (NYSE:CMI) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,198 shares of the company’s stock after selling 100 shares during the period. Schechter Investment Advisors LLC’s holdings in Cummins were worth $1,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Cummins during the third quarter worth about $25,000. Silver Oak Securities Incorporated acquired a new position in Cummins in the 3rd quarter valued at about $28,000. Tyler Stone Wealth Management acquired a new position in Cummins in the 2nd quarter valued at about $30,000. Global Wealth Strategies & Associates acquired a new position in Cummins in the 3rd quarter valued at about $29,000. Finally, Quarry LP acquired a new position in Cummins in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMI. Morgan Stanley began coverage on Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. TD Cowen lifted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Truist Financial started coverage on Cummins in a report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $271.64.

Cummins Trading Up 1.0 %

Shares of Cummins stock opened at $294.69 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $297.11. The company has a market capitalization of $41.80 billion, a P/E ratio of 56.89, a P/E/G ratio of 1.95 and a beta of 1.03. The business has a 50 day moving average price of $260.31 and a 200 day moving average price of $240.49.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 18.36 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.28%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the sale, the chief executive officer now owns 2,698 shares of the company’s stock, valued at $720,123.18. The disclosure for this sale can be found here. In the last three months, insiders sold 51,289 shares of company stock worth $13,576,838. Insiders own 1.05% of the company’s stock.

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.