ST Germain D J Co. Inc. Reduces Stock Position in Cummins Inc. (NYSE:CMI)

ST Germain D J Co. Inc. decreased its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,123 shares of the company's stock after selling 2,601 shares during the period. ST Germain D J Co. Inc.'s holdings in Cummins were worth $18,867,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Pathway Financial Advisers LLC boosted its stake in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock valued at $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Cummins in the second quarter valued at $68,018,000. Renaissance Technologies LLC acquired a new position in shares of Cummins during the 2nd quarter worth $46,607,000. Finally, Fisher Asset Management LLC boosted its position in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after buying an additional 165,398 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 1.2 %

CMI traded down $4.44 on Friday, reaching $355.31. 688,523 shares of the company's stock were exchanged, compared to its average volume of 572,387. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The company's 50 day moving average is $361.92 and its 200-day moving average is $324.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market cap of $48.74 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.80 and a beta of 1.01.

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

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, November 22nd. Cummins's payout ratio is 48.08%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com upgraded Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Finally, Citigroup lifted their price objective on Cummins from $415.00 to $435.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cummins has a consensus rating of "Hold" and a consensus target price of $363.50.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

About Cummins

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.