Forte Capital LLC ADV Sells 179 Shares of Cummins Inc. (NYSE:CMI)

Forte Capital LLC ADV lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,345 shares of the company’s stock after selling 179 shares during the period. Forte Capital LLC ADV’s holdings in Cummins were worth $1,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CMI. Vanguard Group Inc. boosted its position in Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after purchasing an additional 2,055,239 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Cummins by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,590,894 shares of the company’s stock worth $620,701,000 after buying an additional 106,017 shares during the last quarter. Morgan Stanley raised its position in Cummins by 2.7% during the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock worth $433,799,000 after acquiring an additional 50,476 shares in the last quarter. Northern Trust Corp lifted its stake in Cummins by 4.0% in the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after acquiring an additional 69,830 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Cummins by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock valued at $365,430,000 after acquiring an additional 13,634 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CMI shares. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and cut their target price for the company from $243.00 to $225.00 in a research note on Friday, January 19th. TD Cowen boosted their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Robert W. Baird dropped their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday. Evercore ISI upped their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Truist Financial increased their price objective on shares of Cummins from $303.00 to $319.00 and gave the company a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $282.55.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value 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 accessible through this link. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of CMI traded up $0.45 during mid-day trading on Friday, hitting $280.74. 1,058,929 shares of the company’s stock were exchanged, 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. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $304.24. The stock’s 50-day simple moving average is $285.39 and its 200-day simple moving average is $252.55. The firm has a market cap of $38.39 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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 for 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%. Cummins’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $4.52 EPS. On average, equities research analysts expect that Cummins Inc. will post 18.45 EPS for the current year.

Cummins Dividend Announcement

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

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.