Chapin Davis Inc. Sells 80 Shares of Cummins Inc. (NYSE:CMI)

Chapin Davis Inc. lowered its stake in Cummins Inc. (NYSE:CMIFree Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,079 shares of the company’s stock after selling 80 shares during the quarter. Chapin Davis Inc.’s holdings in Cummins were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. First United Bank & Trust bought a new stake in Cummins during the 4th quarter valued at approximately $25,000. Private Wealth Management Group LLC bought a new stake in Cummins during the 4th quarter valued at approximately $26,000. Silver Oak Securities Incorporated bought a new stake in Cummins during the 3rd quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Cummins during the 4th quarter valued at approximately $31,000. Finally, Quarry LP grew its holdings in Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after buying an additional 106 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction dated Friday, May 24th. The stock was purchased at an average cost of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeffrey T. Wiltrout bought 282 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Down 1.3 %

NYSE CMI traded down $3.56 on Monday, reaching $276.93. 1,643,800 shares of the stock traded hands, compared to its average volume of 2,093,647. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The company has a fifty day moving average price of $282.30 and a 200-day moving average price of $269.13. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.73 and a beta of 0.99. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $304.24.

Cummins (NYSE:CMIGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. As a group, research analysts forecast that Cummins Inc. will post 18.84 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 24th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s payout ratio is 49.19%.

Analysts Set New Price Targets

Several research firms have weighed in on CMI. Raymond James began coverage on Cummins in a report on Friday. They set a “market perform” rating for the company. Robert W. Baird cut their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Truist Financial reiterated a “hold” rating and issued a $319.00 target price on shares of Cummins in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group lifted their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $287.55.

View Our Latest Report on Cummins

Cummins Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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