Capital City Trust Co. FL Invests $218,000 in Cummins Inc. (NYSE:CMI)

Capital City Trust Co. FL acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the 3rd quarter, Holdings Channel reports. The fund acquired 674 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new stake in shares of Cummins during the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Cummins in the 2nd quarter worth about $28,000. Lynx Investment Advisory purchased a new stake in Cummins in the 2nd quarter valued at about $29,000. LRI Investments LLC acquired a new position in shares of Cummins during the 1st quarter valued at about $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The trade was a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,576 shares of company stock worth $9,033,945. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on CMI shares. Truist Financial upped their price target on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Robert W. Baird boosted their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and a consensus target price of $334.33.

Cummins Trading Down 0.5 %

NYSE CMI opened at $361.85 on Monday. The stock has a market cap of $49.64 billion, a P/E ratio of 23.90, a PEG ratio of 1.77 and a beta of 0.97. The company’s fifty day simple moving average is $328.91 and its 200-day simple moving average is $301.77. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $220.02 and a 52 week high of $370.21.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating 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 company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the company posted $4.73 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Announces Dividend

The firm 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 $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is 48.08%.

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.