Cummins Inc. (NYSE:CMI) Shares Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lifted its position in shares of Cummins Inc. (NYSE:CMI) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 6,422 shares of the company’s stock after purchasing an additional 551 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Cummins were worth $2,239,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. PFG Investments LLC increased its position in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the last quarter. CWM LLC lifted its holdings in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC raised its position in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after acquiring an additional 59,027 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of Cummins in the 3rd quarter worth about $748,000. Finally, Franklin Resources Inc. lifted its holdings in Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE CMI traded up $3.40 during midday trading on Monday, reaching $357.75. The company’s stock had a trading volume of 586,994 shares, compared to its average volume of 532,050. The company has a market cap of $49.08 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. Cummins Inc. has a one year low of $226.52 and a one year 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 company has a 50 day moving average price of $359.17 and a 200 day moving average price of $322.30.

Cummins (NYSE:CMI) last released its quarterly earnings data 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. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $4.73 EPS. On average, equities research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.03%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Robert W. Baird increased their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Truist Financial upped their target price on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the company 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and an average target price of $356.92.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

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.