Kintegral Advisory LLC Reduces Stock Position in Cummins Inc. (NYSE:CMI)

by · The Cerbat Gem

Kintegral Advisory LLC lowered its holdings in Cummins Inc. (NYSE:CMI – Free Report) by 32.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,865 shares of the company’s stock after selling 2,876 shares during the period. Kintegral Advisory LLC’s holdings in Cummins were worth $1,838,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CMI. Brighton Jones LLC boosted its position in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Cummins during the fourth quarter valued at $30,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cummins by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,402 shares of the company’s stock valued at $308,303,000 after buying an additional 17,687 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Cummins in the 4th quarter worth about $234,000. Finally, Assetmark Inc. increased its stake in shares of Cummins by 0.6% in the 4th quarter. Assetmark Inc. now owns 18,048 shares of the company’s stock worth $6,291,000 after acquiring an additional 111 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John H. Stone purchased 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the purchase, the director directly owned 2,441 shares in the company, valued at $810,607.28. This trade represents a 69.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI opened at $331.83 on Friday. The firm’s 50-day moving average price is $318.77 and its 200-day moving average price is $331.87. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The company has a market cap of $45.71 billion, a PE ratio of 16.51, a PEG ratio of 2.01 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40.

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. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $5.08 earnings per share. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors 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 yield of 2.19%. The ex-dividend date of this dividend was Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent research reports. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and cut their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Robert W. Baird dropped their target price on Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Truist Financial lowered their price target on Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group raised shares of Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus price target of $358.08.

Read Our Latest Stock Report on CMI

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.

Further Reading

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