Cummins Inc. (NYSE:CMI) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,089 shares of the company's stock after selling 1,057 shares during the period. Western Wealth Management LLC's holdings in Cummins were worth $1,077,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Diversify Wealth Management LLC purchased a new stake in shares of Cummins during the fourth quarter worth $215,000. Koshinski Asset Management Inc. raised its holdings in Cummins by 13.4% in the fourth quarter. Koshinski Asset Management Inc. now owns 1,372 shares of the company's stock valued at $478,000 after acquiring an additional 162 shares in the last quarter. Ballentine Partners LLC raised its holdings in Cummins by 5.3% in the fourth quarter. Ballentine Partners LLC now owns 2,506 shares of the company's stock valued at $874,000 after acquiring an additional 127 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Cummins by 26.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,167 shares of the company's stock worth $3,544,000 after acquiring an additional 2,147 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in Cummins by 88.5% during the 4th quarter. Perpetual Ltd now owns 2,130 shares of the company's stock worth $743,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Insider Activity

In other Cummins news, Director John H. Stone purchased 1,000 shares of Cummins stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, with a total value of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares of the company's stock, valued at $810,607.28. This represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.41% of the company's stock.

Cummins Stock Performance

Cummins stock traded down $1.50 during mid-day trading on Wednesday, reaching $324.76. 160,942 shares of the company were exchanged, compared to its average volume of 801,526. The firm's 50-day simple moving average is $304.20 and its two-hundred day simple moving average is $340.53. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The firm has a market cap of $44.74 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. 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 - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $5.08 earnings per share. Equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, May 23rd. Cummins's payout ratio is 36.22%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial decreased their price objective on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $410.00 to $431.00 in a report on Tuesday. Evercore ISI cut their target price on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. UBS Group cut Cummins from a "buy" rating to a "sell" rating and decreased their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Finally, Barclays increased their price target on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued 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 $357.25.

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.