Capital City Trust Co. FL Makes New Investment in Cummins Inc. (NYSE:CMI)

Capital City Trust Co. FL bought a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 674 shares of the company’s stock, valued at approximately $218,000.

Several other institutional investors have also modified their holdings of CMI. Chicago Capital LLC lifted its position in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after acquiring an additional 30 shares during the last quarter. Equitable Trust Co. boosted its position in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares during the period. Atlantic Edge Private Wealth Management LLC grew its stake in Cummins by 0.7% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after buying an additional 35 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its position in Cummins by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $361.85 on Monday. The firm’s fifty day simple moving average is $328.91 and its 200-day simple moving average is $301.77. 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 stock has a market cap of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Cummins Inc. has a fifty-two week low of $220.02 and a fifty-two week high of $370.21.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share 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 for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $4.73 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. Cummins’s payout ratio is 48.08%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CMI shares. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Truist Financial upped their target price on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $334.33.

Insider Buying and Selling at Cummins

In related news, 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 value of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This represents a 23.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. The trade was a 9.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,576 shares of company stock valued at $9,033,945. Insiders own 0.56% of the company’s stock.

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.