American Trust Sells 1,904 Shares of Cummins Inc. (NYSE:CMI)

American Trust lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,016 shares of the company's stock after selling 1,904 shares during the quarter. American Trust's holdings in Cummins were worth $3,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. KG&L Capital Management LLC raised its position in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock valued at $1,296,000 after buying an additional 28 shares in the last quarter. Signaturefd LLC raised its position in shares of Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after buying an additional 28 shares in the last quarter. Fiduciary Trust Co raised its position in shares of Cummins by 1.2% during the 4th quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock valued at $856,000 after buying an additional 28 shares in the last quarter. Massachusetts Wealth Management raised its position in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after buying an additional 30 shares in the last quarter. Finally, Avestar Capital LLC raised its position in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Activity

In other Cummins news, Director John H. Stone acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the purchase, the director now directly owns 2,441 shares of the company's stock, valued at approximately $810,607.28. The trade was a 69.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Cummins Trading Down 0.9%

Shares of CMI traded down $2.95 during trading hours on Wednesday, reaching $323.31. 449,432 shares of the company traded hands, compared to its average volume of 802,917. The company's fifty day moving average price is $304.20 and its two-hundred day moving average price is $340.53. The company has a market capitalization of $44.54 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.08 EPS. Equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins's payout ratio is 36.22%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMI. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird decreased their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Citigroup lifted their target price on shares of Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Truist Financial decreased their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $357.25.

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.