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

Trust Co. of Vermont raised its stake in Cummins Inc. (NYSE:CMI) by 85.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in Cummins during the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins in the 3rd quarter worth $55,000. Friedenthal Financial purchased a new position in shares of Cummins in the fourth quarter worth $55,000. Finally, Bangor Savings Bank lifted its holdings in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’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 sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last three months. 0.56% of the stock is owned by corporate insiders.

Cummins Trading Down 0.1 %

NYSE:CMI traded down $0.35 during mid-day trading on Friday, hitting $365.98. 810,985 shares of the stock traded hands, compared to its average volume of 505,817. The firm’s 50 day moving average is $363.14 and its two-hundred day moving average is $326.73. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $50.21 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.73 EPS. On average, equities research analysts predict that Cummins Inc. will post 20.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of research analyst reports. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus target price of $374.25.

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.