American Trust Decreases Stake in Cummins Inc. (NYSE:CMI)

American Trust decreased its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,920 shares of the company's stock after selling 2,666 shares during the period. American Trust's holdings in Cummins were worth $3,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chicago Capital LLC raised its stake in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock valued at $1,065,000 after purchasing an additional 30 shares during the last quarter. Equitable Trust Co. raised its stake in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company's stock valued at $298,000 after purchasing an additional 32 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in Cummins by 0.7% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company's stock valued at $1,488,000 after purchasing an additional 35 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock valued at $520,000 after purchasing an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock valued at $340,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Trading Down 0.8 %

Shares of NYSE CMI traded down $3.06 during mid-day trading on Friday, reaching $367.51. 674,978 shares of the company's stock were exchanged, compared to its average volume of 1,412,656. The firm has a market capitalization of $50.42 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The company's 50-day moving average is $352.47 and its 200-day moving average is $312.84.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts' consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. During the same period last year, the business posted $4.73 EPS. Cummins's revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, November 22nd. Cummins's dividend payout ratio (DPR) is 48.08%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Robert W. Baird increased their price objective on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. StockNews.com raised Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Finally, Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cummins currently has an average rating of "Hold" and an average price target of $352.85.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 6,489 shares of company stock worth $2,357,531 in the last three months. 0.56% of the stock is owned by company insiders.

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.