Diversified Trust Co Cuts Holdings in Cummins Inc. (NYSE:CMI)

Diversified Trust Co lessened its position in shares of Cummins Inc. (NYSE:CMI) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,916 shares of the company’s stock after selling 2,942 shares during the period. Diversified Trust Co’s holdings in Cummins were worth $3,457,000 at the end of the most recent reporting period.

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

Cummins Trading Up 0.6 %

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

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

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 48.08%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMI. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Citigroup boosted their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $356.92.

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.