Cummins Inc. (NYSE:CMI) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. decreased its position in Cummins Inc. (NYSE:CMI - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,142 shares of the company's stock after selling 981 shares during the quarter. ST Germain D J Co. Inc.'s holdings in Cummins were worth $16,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in Cummins by 5.7% in the fourth quarter. FMR LLC now owns 1,242,362 shares of the company's stock valued at $433,087,000 after purchasing an additional 67,266 shares during the period. Fayez Sarofim & Co increased its position in shares of Cummins by 72.3% during the fourth quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock worth $2,857,000 after acquiring an additional 3,440 shares during the period. National Bank of Canada FI increased its position in shares of Cummins by 4.2% during the fourth quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after acquiring an additional 3,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cummins by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock worth $54,876,000 after acquiring an additional 6,107 shares during the period. Finally, Heritage Trust Co purchased a new stake in shares of Cummins during the fourth quarter worth $1,422,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

Shares of CMI stock traded down $1.41 during trading hours on Wednesday, hitting $323.06. The stock had a trading volume of 533,173 shares, compared to its average volume of 801,763. The stock's 50 day moving average is $303.69 and its 200 day moving average is $339.17. The firm has a market capitalization of $44.50 billion, a PE ratio of 11.47, a PEG ratio of 2.19 and a beta of 1.02. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the firm posted $5.08 EPS. Cummins's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be issued 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 dividend payout ratio is currently 36.22%.

Insider Buying and Selling

In related news, Director John H. Stone purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the acquisition, the director now directly owns 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CMI. The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $410.00 to $431.00 in a research report on Tuesday, May 27th. Evercore ISI cut their price objective on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Truist Financial cut their price objective on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and cut their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Finally, Morgan Stanley boosted their target price on shares of Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins presently 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.