Summit Trail Advisors LLC Sells 217 Shares of Cummins Inc. (NYSE:CMI)

Summit Trail Advisors LLC decreased its position in shares of Cummins Inc. (NYSE:CMI) by 12.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,494 shares of the company’s stock after selling 217 shares during the period. Summit Trail Advisors LLC’s holdings in Cummins were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Bison Wealth LLC increased its holdings in Cummins by 3.6% in the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after purchasing an additional 42 shares during the last quarter. KB Financial Partners LLC raised its position in shares of Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after acquiring an additional 45 shares during the period. Edmp Inc. boosted its stake in Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after acquiring an additional 46 shares during the last quarter. Ledge Wealth Management Inc. grew its holdings in Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after purchasing an additional 48 shares during the period. Finally, Peloton Wealth Strategists increased its stake in Cummins by 0.4% in the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.2 %

Shares of CMI stock opened at $286.91 on Wednesday. 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. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The firm has a 50 day moving average price of $286.11 and a two-hundred day moving average price of $253.84.

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). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

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

Insiders Place Their Bets

In other Cummins news, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel William Fisher purchased 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, 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 have sold 51,289 shares of company stock worth $13,576,838 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CMI shares. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. Robert W. Baird dropped their target price on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. increased their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $282.55.

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.