National Bank of Canada FI Trims Holdings in Cummins Inc. (NYSE:CMI)

National Bank of Canada FI lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 17.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 253,520 shares of the company's stock after selling 53,809 shares during the period. National Bank of Canada FI owned approximately 0.18% of Cummins worth $61,136,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Cummins in the third quarter valued at $25,000. Silver Oak Securities Incorporated purchased a new stake in Cummins in the 3rd quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Cummins in the 4th quarter worth about $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Cummins during the third quarter worth about $39,000. Finally, Peoples Bank KS bought a new position in shares of Cummins during the 3rd quarter valued at $43,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Up 0.2 %

Shares of CMI stock traded up $0.45 during mid-day trading on Friday, reaching $280.74. 1,058,929 shares of the company's stock traded hands, compared to its average volume of 954,800. The company has a quick ratio of 0.74, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $285.39 and its 200-day moving average price is $252.92. The company has a market cap of $38.39 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.91 and a beta of 1.04. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts' consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.52 earnings per share. On average, equities analysts expect that Cummins Inc. will post 18.45 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins's payout ratio is 49.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial increased their price objective on Cummins from $303.00 to $319.00 and gave the company a "hold" rating in a research note on Friday. Evercore ISI boosted their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an "in-line" rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an "underweight" rating in a report on Monday, March 25th. Bank of America downgraded Cummins from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $243.00 to $225.00 in a report on Friday, January 19th. Finally, Robert W. Baird dropped their price objective on Cummins from $298.00 to $295.00 and set a "neutral" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $282.55.

Insider Activity at Cummins

In other news, Director Daniel William Fisher bought 562 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the acquisition, the director now owns 1,068 shares of the company's stock, valued at $284,696.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares of the company's stock, valued at $4,685,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the acquisition, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is owned by insiders.

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.