Cummins Inc. (NYSE:CMI) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,561 shares of the company’s stock after selling 1,187 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Cummins were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. KG&L Capital Management LLC boosted its stake in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after acquiring an additional 28 shares during the last quarter. Massachusetts Wealth Management raised its position in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after purchasing an additional 30 shares during the period. Finally, Avestar Capital LLC lifted its holdings in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI boosted their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Citigroup decreased their target price on Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a research report on Monday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $383.67.

Cummins Price Performance

CMI opened at $313.11 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90. The stock has a fifty day moving average price of $351.11 and a 200 day moving average price of $348.91. The stock has a market cap of $43.05 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.14 EPS. Analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend 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 is currently 25.84%.

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.