CHICAGO TRUST Co NA Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

CHICAGO TRUST Co NA lessened its holdings in Cummins Inc. (NYSE:CMI) by 2.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,359 shares of the company’s stock after selling 150 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Cummins were worth $2,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the third quarter worth $55,000. Bangor Savings Bank increased its position in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Cummins in the second quarter worth $67,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock traded up $0.47 during trading hours on Monday, hitting $355.35. 195,005 shares of the company traded hands, compared to its average volume of 515,867. The firm has a market cap of $48.75 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.80 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $361.92 and its two-hundred day simple moving average is $325.03. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the company posted $4.73 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Truist Financial raised their price target on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $363.50.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Corporate insiders own 0.56% of the company’s stock.

About Cummins

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.