Csenge Advisory Group Lowers Position in Cummins Inc. (NYSE:CMI)

Csenge Advisory Group trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,321 shares of the company’s stock after selling 74 shares during the quarter. Csenge Advisory Group’s holdings in Cummins were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMI. Global Trust Asset Management LLC increased its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

NYSE:CMI opened at $373.71 on Monday. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The stock has a fifty day moving average of $361.09 and a 200 day moving average of $339.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (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 for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the business earned $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.95%. Cummins’s payout ratio is 25.84%.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial raised their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $383.08.

About Cummins

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.