Caliber Wealth Management LLC KS Cuts Stake in Cummins Inc. $CMI

Caliber Wealth Management LLC KS lowered its holdings in Cummins Inc. (NYSE:CMI) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,388 shares of the company’s stock after selling 1,538 shares during the quarter. Caliber Wealth Management LLC KS’s holdings in Cummins were worth $2,750,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. TABR Capital Management LLC purchased a new position in Cummins during the 4th quarter valued at about $625,000. Optas LLC grew its position in shares of Cummins by 9.7% in the fourth quarter. Optas LLC now owns 1,201 shares of the company’s stock valued at $613,000 after purchasing an additional 106 shares during the last quarter. SageGuard Financial Group LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $519,000. Legacy Advisors LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $238,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI opened at $638.75 on Wednesday. The company has a market cap of $88.25 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. Cummins Inc. has a 12 month low of $273.97 and a 12 month high of $647.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The company has a 50-day simple moving average of $573.03 and a 200-day simple moving average of $526.56.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.16 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 26.03 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. Cummins’s payout ratio is 38.99%.

Insider Buying and Selling at Cummins

In other news, VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the completion of the sale, the vice president directly owned 15,807 shares in the company, valued at $8,873,101.38. The trade was a 20.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CMI. JPMorgan Chase & Co. increased their price target on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Barclays increased their price target on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Wolfe Research lowered shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a research report on Monday, January 26th. Robert W. Baird set a $580.00 price target on shares of Cummins in a research report on Friday, February 6th. Finally, Truist Financial increased their price target on shares of Cummins from $703.00 to $730.00 and gave the company a “buy” rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $600.27.

About Cummins

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.