Great Valley Advisor Group Inc. Sells 1,788 Shares of Cummins Inc. (NYSE:CMI)

Great Valley Advisor Group Inc. lowered its stake in Cummins Inc. (NYSE:CMI) by 44.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,198 shares of the company’s stock after selling 1,788 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Cummins were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Cummins during the third quarter valued at approximately $25,000. Silver Oak Securities Incorporated bought a new position in Cummins in the 3rd quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cummins during the 4th quarter valued at $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Cummins during the 3rd quarter valued at $39,000. Finally, Peoples Bank KS purchased a new stake in shares of Cummins in the third quarter worth $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and increased their price target for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Finally, Truist Financial lifted their price objective on shares of Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $282.55.

Cummins Stock Performance

NYSE CMI opened at $280.74 on Friday. The company has a 50-day simple moving average of $285.39 and a two-hundred day simple moving average of $252.55. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The firm has a market cap of $38.39 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.91 and a beta of 1.04. 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 (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Cummins Inc. will post 18.45 EPS for the current year.

Cummins Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is 49.19%.

Insider Activity at Cummins

In other news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the sale, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction 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 sale, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 in the last three months. 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.