Caldwell Trust Co Buys New Stake in Cummins Inc. $CMI

Caldwell Trust Co purchased a new stake in shares of Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,694 shares of the company’s stock, valued at approximately $2,192,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas grew its position in shares of Cummins by 1.8% during the 2nd quarter. BNP Paribas now owns 1,422 shares of the company’s stock valued at $466,000 after acquiring an additional 25 shares during the period. Orca Wealth Management LLC boosted its position in Cummins by 0.6% during the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock worth $1,509,000 after purchasing an additional 28 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Cummins by 1.0% in the second quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock valued at $1,076,000 after purchasing an additional 31 shares during the period. Empirical Finance LLC increased its position in shares of Cummins by 0.7% in the second quarter. Empirical Finance LLC now owns 4,919 shares of the company’s stock valued at $1,611,000 after buying an additional 32 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its stake in shares of Cummins by 1.2% during the 1st quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock worth $872,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares of the company’s stock, valued at $4,536,485.72. This trade represents a 13.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the transaction, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. The trade was a 29.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,581 shares of company stock valued at $14,420,249 in the last three months. 0.41% of the stock is currently owned by insiders.

Cummins Stock Performance

CMI opened at $510.11 on Monday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $526.50. The firm has a market capitalization of $70.42 billion, a PE ratio of 26.47, a PEG ratio of 2.01 and a beta of 1.10. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $459.47 and its 200 day moving average price is $400.93.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The business had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $5.86 EPS. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Cummins’s dividend payout ratio is presently 41.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMI. Argus lifted their price target on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Citigroup increased their price objective on shares of Cummins from $530.00 to $580.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI reissued an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Wells Fargo & Company started coverage on Cummins in a report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $482.87.

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.