Thrivent Financial for Lutherans Sells 14,808 Shares of Cummins Inc. (NYSE:CMI)

Thrivent Financial for Lutherans trimmed its holdings in Cummins Inc. (NYSE:CMI) by 34.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,214 shares of the company’s stock after selling 14,808 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cummins were worth $9,950,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department bought a new stake in Cummins during the 4th quarter worth about $26,000. Compass Financial Services Inc bought a new stake in Cummins during the 4th quarter worth about $27,000. TCTC Holdings LLC bought a new stake in Cummins during the 4th quarter worth about $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Cummins in the 4th quarter valued at about $30,000. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CMI shares. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, UBS Group decreased their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Trading Down 1.1 %

NYSE:CMI opened at $321.78 on Friday. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $355.99 and a two-hundred day moving average price of $347.41. The company has a market cap of $44.24 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the firm posted $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

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.