First Financial Bank Trust Division Sells 34 Shares of Cummins Inc. (NYSE:CMI)

First Financial Bank Trust Division lowered its stake in Cummins Inc. (NYSE:CMI) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,534 shares of the company’s stock after selling 34 shares during the quarter. First Financial Bank Trust Division’s holdings in Cummins were worth $535,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins during the third quarter worth $34,000. nVerses Capital LLC bought a new position in shares of Cummins in the 2nd quarter valued at $55,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the 3rd quarter valued at $55,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Cummins during the 2nd quarter worth $67,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Down 0.3 %

CMI stock traded down $0.95 during mid-day trading on Thursday, reaching $347.65. The company’s stock had a trading volume of 521,947 shares, compared to its average volume of 1,377,560. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average price is $358.36 and its 200 day moving average price is $320.85. The company has a market cap of $47.69 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.73 EPS. On average, equities research analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.09%. Cummins’s dividend payout ratio is presently 48.08%.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CMI shares. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Truist Financial boosted their target price on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $356.92.

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.