Brown Advisory Inc. Has $18.90 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Brown Advisory Inc. lowered its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 67.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,302 shares of the company's stock after selling 126,842 shares during the quarter. Brown Advisory Inc.'s holdings in Cummins were worth $18,901,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Cummins by 0.9% in the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company's stock worth $1,155,000 after acquiring an additional 28 shares during the last quarter. Fiduciary Trust Co increased its holdings in shares of Cummins by 1.2% during the 4th quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock worth $856,000 after purchasing an additional 28 shares during the period. Mindset Wealth Management LLC raised its position in shares of Cummins by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 2,076 shares of the company's stock valued at $724,000 after buying an additional 35 shares during the last quarter. Garrison Point Advisors LLC grew its position in Cummins by 1.1% during the fourth quarter. Garrison Point Advisors LLC now owns 3,190 shares of the company's stock worth $1,112,000 after buying an additional 35 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Cummins by 2.7% during the fourth quarter. Ascent Group LLC now owns 1,417 shares of the company's stock valued at $494,000 after acquiring an additional 37 shares during the period. 83.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CMI shares. Truist Financial reduced their price objective on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Citigroup reissued a "buy" rating and issued a $360.00 price target (up previously from $350.00) on shares of Cummins in a report on Tuesday, June 24th. UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and decreased their target price for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Finally, Evercore ISI dropped their price target on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $358.08.

Cummins Trading Up 1.0%

CMI stock opened at $334.21 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 0.81. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.99 and a beta of 1.03. The business has a fifty day moving average price of $321.75 and a 200 day moving average price of $331.26. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the prior year, the company earned $5.08 EPS. The firm's quarterly revenue was down 2.7% on a year-over-year basis. Analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a $1.82 dividend. The ex-dividend date was Friday, May 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.18%. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Insider Buying and Selling at Cummins

In other news, Director John H. Stone purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the acquisition, the director directly owned 2,441 shares in the company, valued at approximately $810,607.28. The trade was a 69.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

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.

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