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

Diversified Trust Co reduced its stake in Cummins Inc. (NYSE:CMI) by 22.9% in the fourth quarter, HoldingsChannel reports. The fund owned 9,916 shares of the company’s stock after selling 2,942 shares during the quarter. Diversified Trust Co’s holdings in Cummins were worth $3,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMI. Prospera Private Wealth LLC acquired a new stake in Cummins in the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the third quarter valued at $55,000. Bangor Savings Bank boosted its stake in Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after buying an additional 35 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Cummins during the second quarter valued at about $67,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

NYSE CMI opened at $360.01 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $49.39 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The company has a 50 day simple moving average of $360.21 and a 200-day simple moving average of $323.44. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results 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 company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business posted $4.73 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Citigroup increased their price objective on Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Robert W. Baird lifted their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $356.92.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last three months. Corporate insiders own 0.56% of the company’s stock.

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.