Los Angeles Capital Management LLC Trims Position in Cummins Inc. (NYSE:CMI)

Los Angeles Capital Management LLC reduced its holdings in Cummins Inc. (NYSE:CMI) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,262 shares of the company’s stock after selling 15,244 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cummins were worth $10,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in Cummins in the third quarter valued at approximately $25,000. Silver Oak Securities Incorporated purchased a new position in shares of Cummins in the 3rd quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Cummins in the fourth quarter valued at $31,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Cummins during the third quarter worth about $39,000. Finally, Peoples Bank KS purchased a new position in shares of Cummins in the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMI. Truist Financial increased their target price on shares of Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a research report on Friday. Robert W. Baird decreased their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group boosted their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $282.55.

Cummins Trading Up 0.2 %

Shares of NYSE CMI opened at $280.74 on Friday. The stock has a market capitalization of $38.39 billion, a P/E ratio of 20.55, a PEG ratio of 1.91 and a beta of 1.04. The stock’s 50 day moving average price is $285.39 and its two-hundred day moving average price is $252.55. The company has a quick ratio of 0.74, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the prior year, the firm earned $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Cummins Inc. will post 18.45 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. Cummins’s dividend payout ratio is currently 49.19%.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock worth $13,576,838 over the last ninety days. Company insiders own 0.56% of the company’s stock.

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.