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

Cambridge Trust Co. reduced its stake in Cummins Inc. (NYSE:CMI – Get Rating) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,464 shares of the company’s stock after selling 168 shares during the period. Cambridge Trust Co.’s holdings in Cummins were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Cummins by 39.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock valued at $1,067,213,000 after buying an additional 1,484,171 shares during the period. First Trust Advisors LP lifted its stake in Cummins by 48.8% in the third quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock worth $413,878,000 after acquiring an additional 666,567 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Cummins by 69.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,221,941 shares of the company’s stock worth $248,698,000 after acquiring an additional 501,499 shares in the last quarter. Castleview Partners LLC increased its position in shares of Cummins by 18,796.4% in the 2nd quarter. Castleview Partners LLC now owns 432,539 shares of the company’s stock valued at $2,235,000 after purchasing an additional 430,250 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cummins by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock valued at $2,687,113,000 after purchasing an additional 226,774 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI opened at $225.21 on Friday. The company’s 50 day simple moving average is $247.59 and its 200-day simple moving average is $237.19. The firm has a market cap of $31.84 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Cummins Inc. has a 12-month low of $184.27 and a 12-month high of $261.91. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45.

Cummins (NYSE:CMI – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The company reported $4.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $4.52. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Cummins had a net margin of 7.66% and a return on equity of 24.58%. Cummins’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 EPS. As a group, equities analysts predict that Cummins Inc. will post 18.95 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Friday, February 24th were given a $1.57 dividend. This represents a $6.28 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, February 23rd. Cummins’s dividend payout ratio (DPR) is presently 41.56%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Credit Suisse Group boosted their target price on shares of Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. UBS Group increased their price objective on Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Morgan Stanley decreased their target price on Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Cummins from $235.00 to $231.00 and set a “hold” rating on the stock in a research note on Tuesday, February 7th. Finally, StockNews.com began coverage on shares of Cummins in a research report on Thursday. They set a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and an average price target of $254.75.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 5,929 shares of Cummins stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $257.13, for a total value of $1,524,523.77. Following the transaction, the vice president now directly owns 16,144 shares in the company, valued at approximately $4,151,106.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total transaction of $486,420.12. Following the completion of the transaction, the director now owns 21,742 shares in the company, valued at approximately $5,471,156.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 5,929 shares of Cummins stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $257.13, for a total transaction of $1,524,523.77. Following the completion of the sale, the vice president now directly owns 16,144 shares in the company, valued at approximately $4,151,106.72. The disclosure for this sale can be found here. Insiders sold a total of 16,709 shares of company stock valued at $4,245,545 in the last ninety days. Insiders own 1.00% of the company’s stock.

Cummins Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.