First Hawaiian Bank Has $1.57 Million Holdings in Cummins Inc. (NYSE:CMI)

First Hawaiian Bank trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,490 shares of the company’s stock after selling 104 shares during the period. First Hawaiian Bank’s holdings in Cummins were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC raised its holdings in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after purchasing an additional 485 shares during the period. CWM LLC raised its stake in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares during the period. Distillate Capital Partners LLC lifted its position in shares of Cummins by 109,309.3% in the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after buying an additional 59,027 shares during the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of Cummins during the 3rd quarter worth approximately $748,000. Finally, Franklin Resources Inc. increased its holdings in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMI shares. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Citigroup upped their price target on shares of Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $363.50.

Cummins Trading Down 0.1 %

Shares of Cummins stock opened at $359.75 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The company has a market capitalization of $49.35 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.80 and a beta of 1.01. The firm’s 50-day moving average price is $361.38 and its two-hundred day moving average price is $323.95.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm posted $4.73 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were given a dividend of $1.82 per share. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. Cummins’s dividend payout ratio is currently 48.08%.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,489 shares of company stock valued at $2,357,531 over the last ninety days. 0.56% of the stock is owned by corporate insiders.

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.