Good Life Advisors LLC Sells 93 Shares of Cummins Inc. (NYSE:CMI)

Good Life Advisors LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,044 shares of the company’s stock after selling 93 shares during the quarter. Good Life Advisors LLC’s holdings in Cummins were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% in the 4th 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 in the last quarter. KG&L Capital Management LLC raised its position in Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its position in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the period. Avestar Capital LLC increased its stake in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the last quarter. Finally, Equitable Trust Co. raised its holdings in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.3 %

CMI stock opened at $384.73 on Friday. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90. The company has a market capitalization of $52.89 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00. The company’s 50-day simple moving average is $361.52 and its 200 day simple moving average is $341.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.89%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CMI shares. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays increased 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. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $386.67.

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.