Beutel Goodman & Co Ltd. Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

Beutel Goodman & Co Ltd. lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,663 shares of the company’s stock after selling 20,569 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Cummins were worth $210,785,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CMI. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% during 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. BankPlus Trust Department purchased a new stake in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new position in Cummins in the 4th quarter valued at about $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins during the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Cummins in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $313.45 on Friday. The stock has a 50-day simple moving average of $352.17 and a 200 day simple moving average of $348.05. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.13, a P/E/G 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 analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several analyst reports. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus target price of $389.50.

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.