Cambridge Trust Co. Has $264,000 Position in Cummins Inc. (NYSE:CMI)

Cambridge Trust Co. lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the company’s stock after selling 288 shares during the period. Cambridge Trust Co.’s holdings in Cummins were worth $264,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Cummins in the third quarter valued at $25,000. Silver Oak Securities Incorporated acquired a new stake in Cummins in the 3rd quarter valued at about $28,000. Tyler Stone Wealth Management acquired a new stake in Cummins in the 2nd quarter valued at about $30,000. Global Wealth Strategies & Associates acquired a new stake in Cummins in the 3rd quarter valued at about $29,000. Finally, Quarry LP acquired a new stake in Cummins in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMI. Truist Financial assumed coverage on shares of Cummins in a research report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective for the company. TD Cowen raised their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. The Goldman Sachs Group increased their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Performance

Shares of CMI opened at $287.56 on Friday. The firm has a market cap of $39.33 billion, a P/E ratio of 55.51, a PEG ratio of 1.99 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm’s 50 day moving average price is $280.26 and its two-hundred day moving average price is $248.36.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.52 earnings per share. On average, analysts forecast that Cummins Inc. will post 18.27 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. Cummins’s dividend payout ratio is currently 129.73%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel William Fisher bought 562 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders sold 51,289 shares of company stock valued at $13,576,838 over the last three months. Company insiders own 0.56% 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.