Atria Wealth Solutions Inc. Has $3.45 Million Holdings in Cummins Inc. (NYSE:CMI)

Atria Wealth Solutions Inc. increased its stake in shares of Cummins Inc. (NYSE:CMI) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,889 shares of the company’s stock after purchasing an additional 70 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cummins were worth $3,447,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC grew 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 valued at $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Cummins during the 4th quarter worth $27,000. Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in Cummins in the 3rd quarter valued at $55,000. Finally, Friedenthal Financial bought a new position in Cummins in the 4th quarter worth $55,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 0.3 %

CMI opened at $384.73 on Friday. The company has a market capitalization of $52.89 billion, a P/E ratio of 13.66, a P/E/G ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm’s fifty day moving average price is $361.52 and its two-hundred day moving average price is $341.12. Cummins Inc. has a fifty-two week low of $259.06 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the business earned $4.14 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.89%. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMI shares. Barclays upped their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised 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 report on Monday, December 9th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $386.67.

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.