Florida Financial Advisors LLC Sells 523 Shares of Cummins Inc. (NYSE:CMI)

Florida Financial Advisors LLC cut its stake in Cummins Inc. (NYSE:CMI) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 881 shares of the company’s stock after selling 523 shares during the period. Florida Financial Advisors LLC’s holdings in Cummins were worth $307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department acquired a new position in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the 4th quarter worth approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Cummins during the fourth quarter valued at approximately $30,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMI. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $389.50.

Cummins Stock Down 0.2 %

Shares of CMI opened at $330.57 on Wednesday. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The business’s fifty day moving average price is $354.72 and its two-hundred day moving average price is $348.24.

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

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. Cummins’s dividend payout ratio is currently 25.84%.

Cummins 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.