Peloton Wealth Strategists Has $3.14 Million Position in Cummins Inc. (NYSE:CMI)

Peloton Wealth Strategists reduced its holdings in Cummins Inc. (NYSE:CMIGet Rating) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,401 shares of the company’s stock after selling 690 shares during the quarter. Peloton Wealth Strategists’ holdings in Cummins were worth $3,141,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Steward Financial Group LLC acquired a new stake in shares of Cummins in the fourth quarter valued at about $32,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Cummins in the fourth quarter valued at about $39,000. Northwest Investment Counselors LLC acquired a new stake in shares of Cummins in the fourth quarter valued at about $40,000. Bell Investment Advisors Inc bought a new stake in shares of Cummins in the third quarter valued at about $41,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of Cummins in the third quarter valued at about $42,000. 80.50% of the stock is currently owned by institutional investors.

Shares of NYSE:CMI traded up $1.68 during trading on Friday, reaching $201.12. The stock had a trading volume of 1,043,304 shares, compared to its average volume of 968,308. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.68 and a quick ratio of 1.07. The stock has a market capitalization of $28.38 billion, a PE ratio of 14.96, a P/E/G ratio of 1.25 and a beta of 1.03. The business’s 50-day moving average price is $200.58 and its 200 day moving average price is $215.22. Cummins Inc. has a 52 week low of $187.72 and a 52 week high of $270.84.

Cummins (NYSE:CMIGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.49. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The business had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the business posted $4.04 earnings per share. Cummins’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 17.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, May 19th. Cummins’s dividend payout ratio is presently 43.15%.

In other news, VP Sharon R. Barner sold 4,750 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $205.00, for a total value of $973,750.00. Following the completion of the transaction, the vice president now owns 16,348 shares of the company’s stock, valued at approximately $3,351,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Rumsey sold 420 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $208.41, for a total transaction of $87,532.20. Following the completion of the transaction, the chief operating officer now directly owns 2,052 shares of the company’s stock, valued at approximately $427,657.32. The disclosure for this sale can be found here. Insiders have sold a total of 54,001 shares of company stock valued at $11,154,052 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Several equities research analysts recently weighed in on CMI shares. Zacks Investment Research upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 target price for the company in a research note on Friday, April 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Cummins from $256.00 to $233.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Credit Suisse Group cut their price target on shares of Cummins from $304.00 to $270.00 in a research note on Wednesday, May 4th. UBS Group cut shares of Cummins from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $214.00 in a research note on Friday, March 18th. Finally, Citigroup cut their price target on shares of Cummins from $260.00 to $220.00 in a research note on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Buy” and an average price target of $255.27.

Cummins Profile (Get Rating)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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