ST Germain D J Co. Inc. Sells 2,601 Shares of Cummins Inc. (NYSE:CMI)

ST Germain D J Co. Inc. lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,123 shares of the company’s stock after selling 2,601 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Cummins were worth $18,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CMI. Pathway Financial Advisers LLC raised its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after buying an additional 972,247 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cummins in the 2nd quarter worth approximately $68,018,000. Renaissance Technologies LLC purchased a new stake in Cummins in the second quarter worth approximately $46,607,000. Finally, Fisher Asset Management LLC grew its position in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 6,489 shares of company stock worth $2,357,531 over the last ninety days. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Citigroup lifted their price target on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $363.50.

Cummins Trading Down 1.2 %

NYSE:CMI traded down $4.26 during trading hours on Friday, hitting $355.49. The company had a trading volume of 126,427 shares, compared to its average volume of 476,112. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The company has a market capitalization of $48.77 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The stock has a 50-day moving average price of $361.38 and a 200 day moving average price of $323.95.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the company earned $4.73 earnings per share. Cummins’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts predict that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, November 22nd. Cummins’s payout ratio is presently 48.08%.

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.