Glenview Trust co Sells 33 Shares of Cummins Inc. (NYSE:CMI)

Glenview Trust co lessened its position in shares of Cummins Inc. (NYSE:CMI) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,219 shares of the company’s stock after selling 33 shares during the period. Glenview Trust co’s holdings in Cummins were worth $1,122,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CMI. Raymond James Financial Inc. bought a new position in Cummins during the 4th quarter worth about $187,082,000. Proficio Capital Partners LLC bought a new position in shares of Cummins in the 4th quarter valued at about $71,279,000. Amundi grew its holdings in shares of Cummins by 32.3% in the 4th quarter. Amundi now owns 771,038 shares of the company’s stock valued at $277,381,000 after acquiring an additional 188,254 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.4 %

Shares of CMI stock opened at $326.13 on Tuesday. The firm has a 50 day moving average price of $358.75 and a two-hundred day moving average price of $347.28. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $44.84 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $4.14 earnings per share. As a group, analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.23%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CMI shares. Truist Financial raised their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded 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. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $392.64.

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.