Cummins Inc. (NYSE:CMI) Shares Bought by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,525 shares of the company’s stock after purchasing an additional 75 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Cummins were worth $2,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Cummins by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after buying an additional 2,055,239 shares in the last quarter. Morgan Stanley lifted its stake in Cummins by 2.7% in the 3rd quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after buying an additional 50,476 shares in the last quarter. Northern Trust Corp lifted its stake in Cummins by 4.0% in the 3rd quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after buying an additional 69,830 shares in the last quarter. Stifel Financial Corp lifted its stake in Cummins by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock valued at $365,430,000 after buying an additional 13,634 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cummins by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock valued at $244,710,000 after buying an additional 235,372 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by company insiders.

Cummins Stock Up 0.7 %

Shares of Cummins stock traded up $1.94 during trading on Tuesday, hitting $292.34. 271,354 shares of the stock were exchanged, compared to its average volume of 2,759,096. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm’s 50-day moving average price is $280.93 and its 200 day moving average price is $249.14.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period last year, the firm earned $4.52 earnings per share. Cummins’s revenue was up 9.9% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 18.31 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. Cummins’s dividend payout ratio is presently 129.73%.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of research reports. Truist Financial initiated coverage on shares of Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 target price on the stock. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Monday. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price target for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Evercore ISI lifted their target price on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $243.00 to $225.00 in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $279.70.

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.