Diversified Trust Co Trims Stock Position in Cummins Inc. $CMI

Diversified Trust Co decreased its position in Cummins Inc. (NYSE:CMI) by 36.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,295 shares of the company’s stock after selling 4,191 shares during the period. Diversified Trust Co’s holdings in Cummins were worth $3,081,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CMI. BNP Paribas raised its position in 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 purchasing an additional 25 shares in the last quarter. Orca Wealth Management LLC raised its holdings in shares of Cummins by 0.6% in the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after acquiring an additional 28 shares in the last quarter. Bowman & Co S.C. lifted its stake in Cummins by 1.0% in the third quarter. Bowman & Co S.C. now owns 2,964 shares of the company’s stock worth $1,259,000 after acquiring an additional 29 shares during the period. V Square Quantitative Management LLC grew its holdings in Cummins by 1.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock worth $1,076,000 after acquiring an additional 31 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Cummins by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 4,919 shares of the company’s stock valued at $1,611,000 after purchasing an additional 32 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the subject of several research reports. Raymond James Financial raised shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 price target for the company in a research report on Monday, December 22nd. Truist Financial increased their target price on Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Argus upped their price objective on Cummins from $459.00 to $573.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, September 3rd. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and an average price target of $492.75.

Insider Transactions at Cummins

In related news, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Rumsey sold 4,570 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the transaction, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. This trade represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,330 shares of company stock worth $12,649,764 over the last three months. 0.41% of the stock is currently owned by insiders.

Cummins Trading Down 0.2%

Shares of Cummins stock opened at $513.66 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $526.50. The firm has a market capitalization of $70.91 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.03 and a beta of 1.11. The firm’s 50 day simple moving average is $481.39 and its two-hundred day simple moving average is $417.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The business had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same period in the previous year, the firm posted $5.86 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

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

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.