Tealwood Asset Management Inc. Has $2.95 Million Stock Position in Cummins Inc. $CMI

Tealwood Asset Management Inc. reduced its stake in Cummins Inc. (NYSE:CMI) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,778 shares of the company’s stock after selling 2,200 shares during the quarter. Cummins comprises 1.3% of Tealwood Asset Management Inc.’s holdings, making the stock its 13th largest position. Tealwood Asset Management Inc.’s holdings in Cummins were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $28,000. Osterweis Capital Management Inc. acquired a new stake in Cummins during the 2nd quarter worth approximately $31,000. Holos Integrated Wealth LLC acquired a new stake in Cummins during the 4th quarter worth approximately $32,000. Guerra Advisors Inc bought a new stake in Cummins in the 3rd quarter valued at $36,000. Finally, Salomon & Ludwin LLC grew its holdings in Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $532.73 on Friday. The company has a market cap of $73.60 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.71 and a beta of 1.12. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The stock has a fifty day moving average price of $573.85 and a 200-day moving average price of $500.13.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $5.16 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Insider Transactions at Cummins

In related news, VP Earl Newsome sold 1,300 shares of Cummins stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the transaction, the vice president directly owned 3,389 shares of the company’s stock, valued at $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the transaction, the vice president owned 15,130 shares of the company’s stock, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,195 shares of company stock worth $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMI. Truist Financial reiterated a “buy” rating and set a $703.00 price objective (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research report on Monday, January 26th. Robert W. Baird set a $580.00 price target on shares of Cummins in a research note on Friday, February 6th. UBS Group set a $565.00 price objective on shares of Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.