798 Shares in Cummins Inc. (NYSE:CMI) Purchased by Texas Bank & Trust Co

Texas Bank & Trust Co bought a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 798 shares of the company's stock, valued at approximately $278,000.

Several other large investors have also recently bought and sold shares of the business. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after buying an additional 28 shares during the last quarter. 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 acquiring an additional 28 shares in the last quarter. Signaturefd LLC lifted its position in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock worth $1,155,000 after buying an additional 28 shares during the last quarter. Fiduciary Trust Co lifted its holdings in Cummins by 1.2% in the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock worth $856,000 after acquiring an additional 28 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its holdings in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock worth $1,677,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

Shares of NYSE:CMI traded down $1.73 during trading on Thursday, reaching $321.48. The stock had a trading volume of 714,728 shares, compared to its average volume of 805,506. The firm has a market capitalization of $44.28 billion, a price-to-earnings ratio of 11.41, a P/E/G 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 52 week low of $260.02 and a 52 week high of $387.90. The stock has a fifty day simple moving average of $304.57 and a two-hundred day simple moving average of $341.39.

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

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, May 23rd. Cummins's payout ratio is presently 36.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. boosted their price objective on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Truist Financial dropped 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. Evercore ISI lowered their target price on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Robert W. Baird decreased their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Cummins presently has a consensus rating of "Hold" and an average price target of $352.17.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone acquired 1,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $332.08 per share, for a total transaction 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 $810,607.28. The trade was a 69.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.