Summit Trail Advisors LLC Lowers Stake in Cummins Inc. (NYSE:CMI)

Summit Trail Advisors LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,494 shares of the company’s stock after selling 217 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cummins were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Cummins in the third quarter valued at $25,000. Silver Oak Securities Incorporated purchased a new position in shares of Cummins in the 3rd quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cummins during the fourth quarter worth about $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Cummins during the third quarter worth approximately $39,000. Finally, Peoples Bank KS purchased a new position in Cummins in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, Director Daniel William Fisher acquired 562 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel William Fisher bought 562 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated 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 owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 over the last three months. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $243.00 to $225.00 in a report on Friday, January 19th. The Goldman Sachs Group boosted their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen lifted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $282.55.

Cummins Stock Performance

NYSE CMI opened at $286.91 on Wednesday. The business’s 50-day moving average price is $286.11 and its 200 day moving average price is $253.84. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a market capitalization of $39.24 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. Cummins’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.52 earnings per share. On average, research analysts predict that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Cummins Company 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.