Ballast Advisors LLC Sells 250 Shares of Cummins Inc. (NYSE:CMI)

Ballast Advisors LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,069 shares of the company’s stock after selling 250 shares during the quarter. Ballast Advisors LLC’s holdings in Cummins were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CMI. AMG National Trust Bank purchased a new stake in Cummins in the third quarter worth $219,000. Avior Wealth Management LLC boosted its holdings in Cummins by 44.9% in the third quarter. Avior Wealth Management LLC now owns 342 shares of the company’s stock worth $111,000 after acquiring an additional 106 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the third quarter worth about $32,000. Advisors Asset Management Inc. boosted its stake in Cummins by 23.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,346 shares of the company’s stock worth $8,854,000 after purchasing an additional 5,206 shares in the last quarter. Finally, Cornerstone Advisors LLC grew its position in Cummins by 117.2% during the 3rd quarter. Cornerstone Advisors LLC now owns 6,300 shares of the company’s stock worth $2,040,000 after purchasing an additional 3,400 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. dropped their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group cut their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Truist Financial increased their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $389.50.

Cummins Trading Down 0.5 %

NYSE CMI opened at $325.38 on Friday. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 $356.66 and its 200 day moving average price is $347.05.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.14 EPS. On average, sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 25.84%.

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.