Plimoth Trust Co. LLC Has $451,000 Holdings in Cummins Inc. (NYSE:CMI)

Plimoth Trust Co. LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,393 shares of the company’s stock after selling 33 shares during the period. Plimoth Trust Co. LLC’s holdings in Cummins were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMI. CWM LLC raised its stake in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC increased its holdings in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after purchasing an additional 59,027 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Cummins during the second quarter valued at about $16,329,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cummins by 13.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock valued at $55,073,000 after buying an additional 21,850 shares during the period. Finally, Duality Advisers LP grew its position in Cummins by 190.3% during the first quarter. Duality Advisers LP now owns 18,440 shares of the company’s stock worth $5,433,000 after buying an additional 12,087 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

Cummins stock traded down $1.88 on Monday, reaching $333.63. The company’s stock had a trading volume of 465,424 shares, compared to its average volume of 1,559,642. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $340.82. The company has a market cap of $45.63 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The business’s fifty day moving average price is $312.64 and its 200 day moving average price is $294.84.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.18 EPS. Equities analysts expect that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 53.29%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

CMI has been the topic of several recent research reports. Evercore ISI lifted their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Robert W. Baird boosted their price target on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Citigroup lifted their target price on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James initiated coverage on shares of Cummins in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $311.55.

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.