Cummins Inc. $CMI Shares Acquired by Trust Co. of Vermont

Trust Co. of Vermont lifted its holdings in Cummins Inc. (NYSE:CMI) by 11.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,056 shares of the company’s stock after purchasing an additional 1,596 shares during the quarter. Trust Co. of Vermont’s holdings in Cummins were worth $6,359,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Algert Global LLC purchased a new position in Cummins during the 1st quarter worth approximately $323,000. CW Advisors LLC increased its stake in shares of Cummins by 17.5% in the first quarter. CW Advisors LLC now owns 1,668 shares of the company’s stock worth $526,000 after acquiring an additional 249 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Cummins in the first quarter worth $2,962,000. Finally, Groupe la Francaise lifted its position in Cummins by 15.3% during the first quarter. Groupe la Francaise now owns 1,174 shares of the company’s stock valued at $380,000 after purchasing an additional 156 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Cummins stock opened at $519.57 on Tuesday. The company has a fifty day simple moving average of $469.42 and a 200-day simple moving average of $408.85. 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 firm has a market capitalization of $71.72 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.00 and a beta of 1.10. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $526.50.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. Cummins’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.86 EPS. On average, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. Cummins’s dividend payout ratio is currently 41.52%.

Insider Buying and Selling at Cummins

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction on 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 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, CEO Jennifer Rumsey sold 4,570 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,330 shares of company stock worth $12,649,764 in the last ninety days. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CMI shares. Truist Financial lifted their price target on Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, September 3rd. Citigroup boosted their price target on shares of Cummins from $530.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $475.00 target price on shares of Cummins in a research report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and a consensus price target of $492.75.

Cummins 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.