Diversified Trust Co Acquires 1,615 Shares of Cummins Inc. (NYSE:CMI)

Diversified Trust Co increased its position in Cummins Inc. (NYSE:CMI - Free Report) by 16.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,531 shares of the company's stock after acquiring an additional 1,615 shares during the quarter. Diversified Trust Co's holdings in Cummins were worth $3,614,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMI. Brighton Jones LLC grew its position in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Cummins by 6.6% during the fourth quarter. Handelsbanken Fonder AB now owns 4,067 shares of the company's stock valued at $1,418,000 after buying an additional 252 shares during the period. IFP Advisors Inc boosted its stake in Cummins by 12.9% during the fourth quarter. IFP Advisors Inc now owns 3,417 shares of the company's stock valued at $1,191,000 after buying an additional 390 shares during the period. Bank of New York Mellon Corp grew its position in Cummins by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock worth $342,244,000 after buying an additional 120,579 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new position in Cummins in the 4th quarter worth about $269,000. 83.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CMI shares. Truist Financial dropped their price target on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and cut their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Robert W. Baird lowered their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of "Hold" and a consensus price target of $358.08.

Cummins Trading Up 0.6%

Shares of CMI stock traded up $1.86 on Friday, hitting $326.06. 911,106 shares of the company's stock traded hands, compared to its average volume of 777,020. The stock has a market capitalization of $44.92 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.92 and a beta of 1.04. The company's fifty day simple moving average is $314.05 and its 200 day simple moving average is $333.29. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share (EPS) 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 analysts' expectations of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $5.08 earnings per share. Equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.23%. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Insiders Place Their Bets

In other news, Director John H. Stone purchased 1,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $332.08 per share, with a total value of $332,080.00. Following the transaction, the director now directly owns 2,441 shares of the company's stock, valued at approximately $810,607.28. This represents a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company's stock.

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.