Cummins Inc. (NYSE:CMI) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,648 shares of the company’s stock after selling 3,602 shares during the period. Lmcg Investments LLC’s holdings in Cummins were worth $11,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CMI. BankPlus Trust Department acquired a new stake in Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins during the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its position in shares of Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 52 shares during the period. TCTC Holdings LLC purchased a new position in shares of Cummins during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cummins during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and lowered their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Truist Financial lowered their target price on shares of Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Evercore ISI decreased their price target on shares of Cummins from $451.00 to $419.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Finally, Robert W. Baird decreased their price target on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $357.25.

Cummins Stock Performance

NYSE:CMI opened at $323.06 on Thursday. 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 firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 2.19 and a beta of 1.02. The firm’s fifty day simple moving average is $303.88 and its 200 day simple moving average is $339.06. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.08 EPS. As a group, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.25%. Cummins’s dividend payout ratio is currently 36.22%.

Insiders Place Their Bets

In other news, Director John H. Stone acquired 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares of the company’s stock, valued at $810,607.28. This represents a 69.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

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.