Riverview Trust Co Sells 66 Shares of Cummins Inc. $CMI

Riverview Trust Co lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 24.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200 shares of the company’s stock after selling 66 shares during the period. Riverview Trust Co’s holdings in Cummins were worth $66,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. McGuire Investment Group LLC lifted its holdings in shares of Cummins by 5.2% during the second quarter. McGuire Investment Group LLC now owns 19,109 shares of the company’s stock valued at $6,258,000 after purchasing an additional 945 shares during the last quarter. Pure Financial Advisors LLC bought a new position in Cummins during the 2nd quarter valued at approximately $247,000. Woodward Diversified Capital LLC bought a new position in Cummins during the 2nd quarter valued at approximately $402,000. Trilogy Capital Inc. increased its position in Cummins by 6.9% during the 2nd quarter. Trilogy Capital Inc. now owns 8,849 shares of the company’s stock valued at $2,898,000 after buying an additional 574 shares in the last quarter. Finally, QTR Family Wealth LLC purchased a new stake in shares of Cummins in the second quarter worth $202,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised 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 target price for the company in a report on Wednesday, September 3rd. Melius Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, September 3rd. Citigroup boosted their price objective on shares of Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Robert W. Baird boosted their price objective on shares of Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $393.57.

Insider Buying and Selling at Cummins

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the completion of the sale, the director owned 5,227 shares in the company, valued at $2,118,659.91. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 1,580 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $419.00, for a total value of $662,020.00. Following the completion of the transaction, the chief financial officer directly owned 31,582 shares in the company, valued at $13,232,858. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,119 shares of company stock valued at $14,159,885 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Performance

CMI opened at $424.85 on Thursday. The company’s 50 day moving average is $398.13 and its 200 day moving average is $344.32. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. The company has a market cap of $58.54 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.04 and a beta of 1.04. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $432.50.

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

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.9%. This is a boost from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date was Friday, August 22nd. Cummins’s dividend payout ratio (DPR) is presently 37.61%.

Cummins Company 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.