Cummins Inc. $CMI Holdings Lowered by Diversified Trust Co

Diversified Trust Co reduced its position in Cummins Inc. (NYSE:CMI) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,486 shares of the company’s stock after selling 45 shares during the period. Diversified Trust Co’s holdings in Cummins were worth $3,762,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust lifted its position in Cummins by 1.2% in the first quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock worth $887,000 after purchasing an additional 33 shares during the period. Scotia Capital Inc. boosted its position in Cummins by 0.5% in the 1st quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock valued at $2,104,000 after buying an additional 34 shares during the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock worth $872,000 after purchasing an additional 34 shares in the last quarter. PKS Advisory Services LLC lifted its position in Cummins by 2.4% in the 1st quarter. PKS Advisory Services LLC now owns 1,497 shares of the company’s stock valued at $469,000 after acquiring an additional 35 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Cummins by 2.7% in the 4th quarter. Ascent Group LLC now owns 1,417 shares of the company’s stock valued at $494,000 after buying an additional 37 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 0.7%

Shares of NYSE:CMI opened at $423.59 on Friday. The business has a fifty day moving average of $386.60 and a two-hundred day moving average of $339.46. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $428.96. The stock has a market cap of $58.37 billion, a P/E ratio of 19.91, a PEG ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the business earned $5.26 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 22nd. This is a positive change from Cummins’s previous quarterly dividend of $1.82. Cummins’s dividend payout ratio is 37.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CMI shares. Citigroup upped their price target on shares of Cummins from $380.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised shares of Cummins to an “overweight” rating in a research note on Monday, August 11th. Melius raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, September 3rd. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, September 3rd. Finally, Barclays upped their price target on shares of Cummins from $381.00 to $387.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.29.

Insider Activity

In other Cummins news, VP Luther E. Peters sold 4,850 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $389.19, for a total transaction of $1,887,571.50. Following the completion of the sale, the vice president directly owned 7,693 shares in the company, valued at $2,994,038.67. This trade represents a 38.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Amy Rochelle Davis sold 5,002 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the sale, the vice president directly owned 20,738 shares in the company, valued at $8,354,925.44. This trade represents a 19.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,119 shares of company stock worth $14,159,885. 0.41% of the stock is currently owned by 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.