Cummins Inc. (NYSE:CMI) Shares Sold by Diversified Trust Co

Diversified Trust Co cut its position in Cummins Inc. (NYSE:CMI - Free Report) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,916 shares of the company's stock after selling 2,942 shares during the period. Diversified Trust Co's holdings in Cummins were worth $3,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins during the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Cummins in the 3rd quarter valued at $55,000. Bangor Savings Bank increased its stake in shares of Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company's stock worth $62,000 after acquiring an additional 35 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Cummins during the 2nd quarter worth $67,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Down 0.1 %

Shares of CMI stock traded down $0.23 during trading on Wednesday, reaching $359.75. The company's stock had a trading volume of 437,803 shares, compared to its average volume of 549,160. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The stock's 50-day moving average price is $360.77 and its 200 day moving average price is $323.69. The company has a market capitalization of $49.35 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 1.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.73 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Friday, November 22nd. Cummins's dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CMI shares. JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup raised their price target on shares of Cummins from $415.00 to $435.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Robert W. Baird upped their price objective on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, StockNews.com raised Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $356.92.

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.