Sanibel Captiva Trust Company Inc. Trims Stake in Cummins Inc. (NYSE:CMI)

Sanibel Captiva Trust Company Inc. lessened its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,419 shares of the company's stock after selling 2,162 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Cummins were worth $21,411,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Verity & Verity LLC lifted its holdings in Cummins by 1.6% during the 4th quarter. Verity & Verity LLC now owns 35,192 shares of the company's stock worth $12,268,000 after purchasing an additional 552 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Cummins by 24.1% in the fourth quarter. Arkadios Wealth Advisors now owns 7,544 shares of the company's stock valued at $2,630,000 after acquiring an additional 1,465 shares during the period. Brooklyn Investment Group grew its stake in Cummins by 11.1% during the fourth quarter. Brooklyn Investment Group now owns 663 shares of the company's stock valued at $231,000 after acquiring an additional 66 shares in the last quarter. Merit Financial Group LLC increased its holdings in Cummins by 177.5% during the 4th quarter. Merit Financial Group LLC now owns 12,835 shares of the company's stock worth $4,474,000 after acquiring an additional 8,209 shares during the period. Finally, Relyea Zuckerberg Hanson LLC bought a new position in Cummins in the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Trading Down 0.1 %

Shares of NYSE:CMI traded down $0.35 on Friday, reaching $365.98. 810,985 shares of the company traded hands, compared to its average volume of 505,817. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business's 50-day simple moving average is $363.33 and its 200 day simple moving average is $327.80. The stock has a market capitalization of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMI. Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird upped their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $374.25.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company's stock, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 insiders.

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.