Cummins Inc. (NYSE:CMI) Shares Bought by Trust Co. of Vermont

Trust Co. of Vermont grew its position in Cummins Inc. (NYSE:CMI - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,474 shares of the company's stock after acquiring an additional 1,533 shares during the quarter. Trust Co. of Vermont's holdings in Cummins were worth $3,910,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after buying an additional 52 shares in the last quarter. TCTC Holdings LLC acquired a new position in Cummins during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new stake in Cummins during the 4th quarter valued at about $30,000. Capital A Wealth Management LLC acquired a new stake in Cummins in the 4th quarter valued at about $32,000. Finally, Providence First Trust Co acquired a new stake in Cummins in the 4th quarter valued at about $35,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In other Cummins news, Director John H. Stone bought 1,000 shares of the stock in a transaction dated Friday, May 16th. The shares were acquired at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the transaction, the director now owns 2,441 shares in the company, valued at approximately $810,607.28. The trade was a 69.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMI shares. Citigroup restated a "buy" rating and issued a $360.00 price target (up from $350.00) on shares of Cummins in a research report on Tuesday. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $410.00 to $431.00 in a research note on Tuesday, May 27th. Truist Financial cut their target price on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird reduced their price target on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cummins has an average rating of "Hold" and an average target price of $358.08.

Cummins Stock Up 1.9%

Shares of NYSE CMI opened at $324.85 on Friday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The business's 50 day moving average is $314.05 and its two-hundred day moving average is $333.29. The firm has a market cap of $44.75 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.92 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating the consensus estimate 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 return on equity of 26.88% and a net margin of 8.20%. Cummins's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.08 earnings per share. Research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, May 23rd. Cummins's payout ratio is 36.22%.

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.

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