Diversified Trust Co Lowers Holdings in Cummins Inc. $CMI

Diversified Trust Co trimmed its stake in shares of Cummins Inc. (NYSE:CMI) by 36.5% during the 3rd quarter, Holdings Channel reports. The fund owned 7,295 shares of the company’s stock after selling 4,191 shares during the quarter. Diversified Trust Co’s holdings in Cummins were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. CreativeOne Wealth LLC grew its position in Cummins by 31.3% during the first quarter. CreativeOne Wealth LLC now owns 1,268 shares of the company’s stock valued at $397,000 after buying an additional 302 shares during the period. State of Wyoming acquired a new stake in Cummins during the first quarter valued at $50,000. Baird Financial Group Inc. increased its holdings in Cummins by 43.1% in the first quarter. Baird Financial Group Inc. now owns 60,703 shares of the company’s stock valued at $19,027,000 after buying an additional 18,294 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of Cummins by 80.0% in the first quarter. Focus Partners Advisor Solutions LLC now owns 4,507 shares of the company’s stock worth $1,413,000 after acquiring an additional 2,003 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 0.2%

Shares of CMI opened at $513.66 on Wednesday. The stock has a 50 day moving average price of $481.39 and a 200 day moving average price of $417.00. Cummins Inc. has a one year low of $260.02 and a one year high of $526.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. The stock 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.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (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 company had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter in the previous year, the company posted $5.86 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Insider Buying and Selling at Cummins

In other news, CEO Jennifer Rumsey sold 4,570 shares of the business’s 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 transaction, the chief executive officer directly owned 42,880 shares in the company, valued at $20,320,403.20. The trade was a 9.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were 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 approximately $4,536,485.72. This represents a 13.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,330 shares of company stock worth $12,649,764. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMI. UBS Group upgraded Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a report on Friday, November 7th. Wells Fargo & Company began coverage on Cummins in a research report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 price objective for the company. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Melius Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a report on Wednesday, September 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $492.75.

About Cummins

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.