Cummins Inc. (NYSE:CMI) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lessened its holdings in Cummins Inc. (NYSE:CMI) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,958 shares of the company’s stock after selling 284 shares during the quarter. Trust Co. of Vermont’s holdings in Cummins were worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after purchasing an additional 2,055,239 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cummins by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,343,678 shares of the company’s stock valued at $1,759,326,000 after buying an additional 246,025 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Cummins by 4.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,590,894 shares of the company’s stock worth $620,701,000 after buying an additional 106,017 shares during the last quarter. Morgan Stanley grew its holdings in Cummins by 2.7% during the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock worth $433,799,000 after acquiring an additional 50,476 shares during the period. Finally, Northern Trust Corp raised its position in Cummins by 4.0% during the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after acquiring an additional 69,830 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE CMI opened at $269.91 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The stock’s fifty day moving average is $285.45 and its two-hundred day moving average is $266.16. The firm has a market capitalization of $36.92 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 1.66 and a beta of 1.02. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.36 billion. On average, research analysts anticipate that Cummins Inc. will post 18.84 earnings per share for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 24th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Thursday, May 23rd. Cummins’s payout ratio is presently 49.19%.

Wall Street Analyst Weigh In

Several research firms have commented on CMI. JPMorgan Chase & Co. upped their price objective on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Robert W. Baird dropped their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group upped their price objective on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Evercore ISI raised their target price on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $319.00 price target on shares of Cummins in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $284.36.

Insider Activity at Cummins

In other Cummins news, VP Marvin Boakye bought 1,745 shares of Cummins stock in a transaction on Monday, May 20th. The shares were bought at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares of the company’s stock, valued at $499,139.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Marvin Boakye purchased 1,745 shares of the company’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

About Cummins

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.