Peloton Wealth Strategists Sells 252 Shares of Cummins Inc. (NYSE:CMI)

Peloton Wealth Strategists lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,778 shares of the company’s stock after selling 252 shares during the quarter. Cummins makes up approximately 1.8% of Peloton Wealth Strategists’ holdings, making the stock its 18th biggest holding. Peloton Wealth Strategists’ holdings in Cummins were worth $4,454,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after acquiring an additional 126,703 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after acquiring an additional 165,398 shares during the last quarter. FMR LLC grew its holdings in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after acquiring an additional 9,245 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cummins by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company’s stock worth $342,244,000 after acquiring an additional 120,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cummins by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 866,715 shares of the company’s stock worth $280,634,000 after acquiring an additional 6,608 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $364.35 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a market capitalization of $50.09 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 2.19 and a beta of 1.00. The firm’s 50 day simple moving average is $361.99 and its 200 day simple moving average is $343.63. Cummins Inc. has a fifty-two week low of $260.88 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last announced its 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 firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders 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 yield of 2.00%. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CMI shares. Robert W. Baird raised their target price 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. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cummins has a consensus rating of “Hold” and a consensus price target 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.