Diversified Trust Co Increases Holdings in Cummins Inc. $CMI

Diversified Trust Co grew its holdings in Cummins Inc. (NYSE:CMI) by 26.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,314 shares of the company’s stock after buying an additional 2,182 shares during the quarter. Diversified Trust Co’s holdings in Cummins were worth $5,549,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CMI. Thompson Investment Management Inc. purchased a new position in shares of Cummins during the fourth quarter valued at approximately $26,000. Activest Wealth Management lifted its stake in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Cummins in the fourth quarter worth $27,000. Birchwood Financial Partners Inc. bought a new stake in Cummins in the fourth quarter valued at $28,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Cummins in the fourth quarter valued at $28,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the transaction, the vice president owned 11,986 shares in the company, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is currently owned by insiders.

Cummins Price Performance

CMI stock opened at $716.50 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm has a 50 day moving average price of $663.00 and a 200-day moving average price of $590.68. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $737.76. The firm has a market capitalization of $98.87 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.75 and a beta of 1.23.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the business posted $5.96 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 29.44 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is currently 41.52%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Morgan Stanley lifted their target price on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial set a $815.00 price target on shares of Cummins in a research note on Wednesday, May 6th. Finally, Raymond James Financial raised their price objective on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $731.86.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.