Trust Co. of Vermont Grows Stock Position in Cummins Inc. (NYSE:CMI)

Trust Co. of Vermont increased its stake in shares of Cummins Inc. (NYSE:CMI) by 85.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,941 shares of the company’s stock after acquiring an additional 5,042 shares during the period. Trust Co. of Vermont’s holdings in Cummins were worth $3,814,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in Cummins by 34.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,956 shares of the company’s stock worth $819,000 after buying an additional 758 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Cummins by 10.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,947 shares of the company’s stock valued at $1,370,000 after purchasing an additional 457 shares in the last quarter. Blair William & Co. IL grew its stake in Cummins by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 24,685 shares of the company’s stock valued at $6,836,000 after acquiring an additional 961 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Cummins in the second quarter valued at about $479,000. Finally, Ieq Capital LLC increased its stake in shares of Cummins by 13.9% during the second quarter. Ieq Capital LLC now owns 7,078 shares of the company’s stock worth $1,960,000 after purchasing an additional 865 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $374.25.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last quarter. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI traded down $0.35 during mid-day trading on Friday, hitting $365.98. 810,985 shares of the company were exchanged, compared to its average volume of 505,817. The firm has a market cap of $50.21 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The stock has a 50 day simple moving average of $363.14 and a 200-day simple moving average of $326.73. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

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

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.