Rowlandmiller & PARTNERS.ADV Sells 63 Shares of Cummins Inc. (NYSE:CMI)

Rowlandmiller & PARTNERS.ADV reduced its stake in Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,025 shares of the company’s stock after selling 63 shares during the quarter. Cummins makes up approximately 1.8% of Rowlandmiller & PARTNERS.ADV’s investment portfolio, making the stock its 17th biggest position. Rowlandmiller & PARTNERS.ADV’s holdings in Cummins were worth $8,375,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings 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 during the period. Compass Financial Services Inc bought a new position in Cummins in the 4th quarter worth $27,000. Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter worth $32,000. Kestra Investment Management LLC bought a new position in Cummins in the 4th quarter worth $43,000. Finally, Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter worth $55,000. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CMI. Evercore ISI raised their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial raised their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird raised their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Trading Down 4.6 %

Shares of CMI stock opened at $366.79 on Monday. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $361.51 and its 200-day moving average price is $342.40. The stock has a market capitalization of $50.43 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last released its quarterly 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 company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $4.14 earnings per share. Equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins’s dividend payout ratio is currently 25.84%.

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.