Cummins Inc. (NYSE:CMI) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,273 shares of the company’s stock after selling 70 shares during the quarter. RWA Wealth Partners LLC’s holdings in Cummins were worth $792,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. KG&L Capital Management LLC grew its holdings in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the last quarter. Signaturefd LLC increased its position in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after acquiring an additional 28 shares during the period. Massachusetts Wealth Management raised its stake in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares during the last quarter. Finally, Avestar Capital LLC grew its stake in Cummins by 3.2% during the 4th 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 and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $313.11 on Tuesday. 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 firm has a fifty day moving average of $351.11 and a 200 day moving average of $348.91. The firm has a market cap of $43.05 billion, a PE ratio of 11.11, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.57% and a return on equity of 27.12%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.14 earnings per share. As a group, research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CMI shares. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Citigroup dropped their price objective on shares of Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird boosted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Finally, Barclays boosted 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. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $383.67.

About Cummins

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.