Legacy Advisors LLC Sells 1,936 Shares of Cummins Inc. (NYSE:CMI)

Legacy Advisors LLC lessened its position in Cummins Inc. (NYSE:CMIFree Report) by 61.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,213 shares of the company’s stock after selling 1,936 shares during the period. Legacy Advisors LLC’s holdings in Cummins were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Balentine LLC grew its stake in shares of Cummins by 3.3% in the third quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after acquiring an additional 127 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of Cummins during the third quarter valued at about $9,048,000. Capital Advisors Inc. OK bought a new stake in shares of Cummins in the fourth quarter valued at about $24,915,000. Finally, SG Americas Securities LLC grew its position in Cummins by 227.6% during the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after buying an additional 16,869 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial reiterated a “hold” rating and issued a $319.00 price objective on shares of Cummins in a research report on Wednesday, May 15th. The Goldman Sachs Group raised their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Robert W. Baird lowered their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Evercore ISI raised their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $284.36.

Check Out Our Latest Report on Cummins

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Marvin Boakye purchased 1,745 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $286.04 per share, with a total value of $499,139.80. Following the completion of the acquisition, the vice president now directly owns 1,745 shares in the company, valued at approximately $499,139.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Cummins Price Performance

NYSE:CMI traded up $1.86 on Thursday, reaching $276.20. The stock had a trading volume of 42,048 shares, compared to its average volume of 2,280,051. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $37.78 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The stock has a fifty day moving average price of $290.82 and a 200-day moving average price of $261.32.

Cummins (NYSE:CMIGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.36 billion. Research analysts forecast that Cummins Inc. will post 18.6 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 24th will be paid a $1.68 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.43%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Cummins Profile

(Free Report)

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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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