Cummins Inc. (NYSE:CMI) Stock Holdings Trimmed by Moody National Bank Trust Division

Moody National Bank Trust Division trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,125 shares of the company’s stock after selling 416 shares during the period. Moody National Bank Trust Division’s holdings in Cummins were worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Capital Investment Advisors LLC grew its holdings in shares of Cummins by 2.0% during the fourth quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock valued at $38,481,000 after buying an additional 2,211 shares in the last quarter. Trust Co. of Toledo NA OH raised its stake in Cummins by 14.3% during the 4th quarter. Trust Co. of Toledo NA OH now owns 1,218 shares of the company’s stock valued at $425,000 after purchasing an additional 152 shares during the last quarter. Matrix Trust Co lifted its position in shares of Cummins by 520.5% in the 4th quarter. Matrix Trust Co now owns 273 shares of the company’s stock worth $95,000 after acquiring an additional 229 shares during the period. Czech National Bank boosted its position in shares of Cummins by 6.5% during the 4th quarter. Czech National Bank now owns 29,744 shares of the company’s stock valued at $10,369,000 after acquiring an additional 1,826 shares in the last quarter. Finally, Graypoint LLC raised its holdings in shares of Cummins by 2.0% in the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock worth $653,000 after buying an additional 36 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock traded up $4.87 during mid-day trading on Monday, reaching $359.75. 311,408 shares of the company were exchanged, compared to its average volume of 534,092. The company has a fifty day simple moving average of $361.92 and a 200-day simple moving average of $325.03. The firm has a market cap of $49.35 billion, a PE ratio of 23.76, a PEG ratio of 1.80 and a beta of 1.01. 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 12 month low of $226.52 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last issued 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. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $4.73 EPS. As a group, equities research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, November 22nd. Cummins’s payout ratio is 48.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CMI shares. Citigroup increased their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $363.50.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins 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 completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 6,489 shares of company stock valued at $2,357,531. Corporate insiders own 0.56% of the company’s stock.

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.