ST Germain D J Co. Inc. Sells 7,108 Shares of Cummins Inc. $CMI

ST Germain D J Co. Inc. cut its position in shares of Cummins Inc. (NYSE:CMI) by 13.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,111 shares of the company’s stock after selling 7,108 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Cummins were worth $19,054,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cummins by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock worth $5,773,219,000 after acquiring an additional 344,680 shares in the last quarter. State Street Corp lifted its position in shares of Cummins by 1.4% in the second quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after purchasing an additional 92,073 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cummins by 1.3% during the second quarter. Geode Capital Management LLC now owns 3,499,240 shares of the company’s stock worth $1,141,138,000 after purchasing an additional 43,720 shares during the last quarter. Fisher Asset Management LLC grew its position in Cummins by 4.5% in the second quarter. Fisher Asset Management LLC now owns 3,275,045 shares of the company’s stock valued at $1,072,578,000 after purchasing an additional 142,058 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Cummins by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after buying an additional 22,202 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, CEO Jennifer Rumsey sold 4,570 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the transaction, the chief executive officer directly owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the sale, the insider owned 9,271 shares of the company’s stock, valued at $4,536,485.72. This trade represents a 13.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 27,330 shares of company stock valued at $12,649,764. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, September 3rd. Barclays raised their price target on Cummins from $430.00 to $515.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. UBS Group upgraded Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a report on Friday, November 7th. Finally, Wall Street Zen raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average price target of $482.87.

Cummins Stock Down 0.5%

Cummins stock opened at $514.69 on Wednesday. The company’s 50-day moving average price is $462.64 and its two-hundred day moving average price is $403.66. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52. The stock has a market cap of $71.05 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.04 and a beta of 1.11. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $526.50.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating the consensus estimate of $4.83 by $0.76. The company had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.86 earnings per share. As a group, analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were given a dividend of $2.00 per share. The ex-dividend date was Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.6%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Cummins Company 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.