Canandaigua National Trust Co of Florida Sells 265 Shares of Cummins Inc. (NYSE:CMI)

Canandaigua National Trust Co of Florida lowered its stake in Cummins Inc. (NYSE:CMI) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,018 shares of the company’s stock after selling 265 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Cummins were worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Chicago Capital LLC raised its position in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after acquiring an additional 35 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Cummins by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after purchasing an additional 38 shares in the last quarter. Finally, Shepherd Financial Partners LLC raised its stake in Cummins by 2.3% in the third quarter. Shepherd Financial Partners LLC now owns 1,819 shares of the company’s stock valued at $589,000 after purchasing an additional 41 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on CMI shares. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Citigroup boosted their target price on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $356.92.

Cummins Trading Up 1.0 %

Shares of CMI stock traded up $3.40 during mid-day trading on Monday, reaching $357.75. The stock had a trading volume of 586,994 shares, compared to its average volume of 532,050. 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 firm has a market capitalization of $49.08 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The stock’s 50-day moving average price is $359.17 and its two-hundred day moving average price is $322.30.

Cummins (NYSE:CMI) last issued its quarterly earnings data 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm earned $4.73 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last three months. Company insiders own 0.56% of the company’s stock.

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.