CWA Asset Management Group LLC Has $4.45 Million Position in Cummins Inc. (NYSE:CMI)

CWA Asset Management Group LLC cut its stake in Cummins Inc. (NYSE:CMI - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,203 shares of the company's stock after selling 812 shares during the period. CWA Asset Management Group LLC's holdings in Cummins were worth $4,452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock worth $736,000 after buying an additional 83 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Cummins by 320.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 37,272 shares of the company's stock worth $12,958,000 after acquiring an additional 28,400 shares in the last quarter. Principal Securities Inc. increased its stake in Cummins by 14.9% in the fourth quarter. Principal Securities Inc. now owns 2,752 shares of the company's stock valued at $959,000 after acquiring an additional 356 shares during the last quarter. Allworth Financial LP raised its position in Cummins by 110.8% during the fourth quarter. Allworth Financial LP now owns 5,810 shares of the company's stock valued at $2,126,000 after purchasing an additional 3,054 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its stake in Cummins by 21.0% during the fourth quarter. Valmark Advisers Inc. now owns 854 shares of the company's stock worth $298,000 after purchasing an additional 148 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John H. Stone acquired 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $332.08 per share, with a total value of $332,080.00. Following the acquisition, the director now owns 2,441 shares of the company's stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and decreased their price target for the company from $400.00 to $240.00 in a research note on Monday, April 7th. Evercore ISI lowered their target price on Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Wall Street Zen cut shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Citigroup lifted their price target on shares of Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, The Goldman Sachs Group raised shares of Cummins from a "neutral" rating to a "buy" rating and increased their price objective for the company from $410.00 to $431.00 in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Cummins has an average rating of "Hold" and an average target price of $357.25.

Cummins Price Performance

Shares of CMI opened at $314.72 on Wednesday. The firm has a market cap of $43.36 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The business's 50 day moving average price is $309.52 and its two-hundred day moving average price is $335.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34.

Cummins (NYSE:CMI - Get Free Report) last issued its 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 analyst estimates of $8.22 billion. During the same period in the prior year, the firm earned $5.08 earnings per share. Cummins's revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, May 23rd. Cummins's payout ratio is 36.22%.

About Cummins

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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