Cummins Inc. $CMI Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 27.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,778 shares of the company’s stock after selling 2,200 shares during the quarter. Cummins accounts for 1.3% of Tealwood Asset Management Inc.’s portfolio, making the stock its 13th largest position. Tealwood Asset Management Inc.’s holdings in Cummins were worth $2,949,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CMI. Holos Integrated Wealth LLC purchased a new stake in Cummins during the 4th quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new position in Cummins in the third quarter valued at about $28,000. Salomon & Ludwin LLC lifted its stake in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after purchasing an additional 80 shares in the last quarter. Guerra Advisors Inc acquired a new position in shares of Cummins during the third quarter worth about $36,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cummins in the third quarter worth about $37,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $532.73 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The business has a 50 day moving average price of $573.85 and a two-hundred day moving average price of $500.13. The firm has a market cap of $73.60 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 EPS. Sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.5%. Cummins’s dividend payout ratio is currently 38.99%.

Insider Activity

In other news, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the sale, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William I. Miller sold 18,107 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,195 shares of company stock worth $18,397,489 over the last ninety days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CMI. Citigroup raised their target price on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Wells Fargo & Company upped their price target on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Barclays boosted their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research note on Monday, January 26th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.