ST Germain D J Co. Inc. Sells 7,741 Shares of Cummins Inc. (NYSE:CMI)

ST Germain D J Co. Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 12.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,724 shares of the company’s stock after selling 7,741 shares during the period. ST Germain D J Co. Inc.’s holdings in Cummins were worth $18,367,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CMI. Raymond James & Associates boosted its holdings in Cummins by 7.0% in the third quarter. Raymond James & Associates now owns 269,574 shares of the company’s stock worth $87,285,000 after acquiring an additional 17,595 shares in the last quarter. NovaPoint Capital LLC increased its stake in Cummins by 4.3% in the 3rd quarter. NovaPoint Capital LLC now owns 11,826 shares of the company’s stock valued at $3,829,000 after buying an additional 484 shares during the last quarter. Blue Trust Inc. lifted its holdings in Cummins by 22.1% during the third quarter. Blue Trust Inc. now owns 1,530 shares of the company’s stock worth $495,000 after acquiring an additional 277 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of Cummins by 10.1% in the 3rd quarter. Precedent Wealth Partners LLC now owns 4,539 shares of the company’s stock worth $1,470,000 after buying an additional 415 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in Cummins by 27.9% in the third quarter. Aaron Wealth Advisors LLC now owns 1,054 shares of the company’s stock valued at $341,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 0.8 %

Shares of NYSE:CMI traded up $2.52 during trading hours on Friday, hitting $335.51. 1,534,690 shares of the company’s stock traded hands, compared to its average volume of 1,565,059. The business has a fifty day moving average price of $312.64 and a 200-day moving average price of $294.85. The firm has a market capitalization of $45.89 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $340.82.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.18 EPS. Equities analysts expect that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is 53.29%.

Analyst Ratings Changes

Several research firms have recently weighed in on CMI. Citigroup lifted their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Barclays upped their target price on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Raymond James assumed coverage on shares of Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial boosted their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $311.55.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

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.