Cambridge Trust Co. Has $264,000 Stock Position in Cummins Inc. (NYSE:CMI)

Cambridge Trust Co. reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 20.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the company’s stock after selling 288 shares during the quarter. Cambridge Trust Co.’s holdings in Cummins were worth $264,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Balentine LLC grew its holdings in shares of Cummins by 3.3% during the third quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after buying an additional 127 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new position in shares of Cummins during the third quarter valued at about $9,048,000. Sequoia Financial Advisors LLC lifted its position in shares of Cummins by 200.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after purchasing an additional 3,866 shares in the last quarter. Capital Advisors Inc. OK bought a new position in shares of Cummins during the fourth quarter valued at about $24,915,000. Finally, SG Americas Securities LLC lifted its position in shares of Cummins by 227.6% during the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after purchasing an additional 16,869 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the sale, the senior vice president now directly owns 73,741 shares in the company, valued at approximately $19,545,052.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CMI. JPMorgan Chase & Co. raised their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Truist Financial assumed coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $279.70.

Cummins Trading Down 1.3 %

Shares of NYSE CMI opened at $287.56 on Friday. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24. The stock has a market cap of $39.33 billion, a P/E ratio of 55.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. The firm has a 50-day moving average of $280.26 and a 200 day moving average of $248.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same period last year, the business earned $4.52 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Cummins Inc. will post 18.27 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.34%. Cummins’s dividend payout ratio (DPR) is currently 129.73%.

Cummins Company 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.