SFE Investment Counsel Sells 470 Shares of Cummins Inc. (NYSE:CMI)

SFE Investment Counsel cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,782 shares of the company’s stock after selling 470 shares during the period. Cummins comprises approximately 1.7% of SFE Investment Counsel’s investment portfolio, making the stock its 18th biggest position. SFE Investment Counsel’s holdings in Cummins were worth $6,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Cummins during the third quarter worth $25,000. Silver Oak Securities Incorporated bought a new stake in Cummins during the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new stake in Cummins during the third quarter worth $29,000. Tyler Stone Wealth Management bought a new position in shares of Cummins in the 2nd quarter valued at $30,000. Finally, Quarry LP purchased a new position in shares of Cummins during the 1st quarter valued at $32,000. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Evercore ISI lifted their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, Truist Financial initiated coverage on shares of Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $279.70.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the sale, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 0.56% of the company’s stock.

Cummins Trading Down 0.1 %

Shares of NYSE:CMI traded down $0.28 during midday trading on Thursday, hitting $291.08. 451,860 shares of the stock traded hands, compared to its average volume of 2,813,392. The stock has a market capitalization of $39.81 billion, a PE ratio of 56.69, a P/E/G ratio of 2.01 and a beta of 1.04. The business’s 50 day moving average is $278.71 and its two-hundred day moving average is $247.63. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. Cummins Inc. has a one year low of $203.18 and a one year high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings results 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). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.