Capital City Trust Co. FL Buys 96 Shares of Cummins Inc. (NYSE:CMI)

Capital City Trust Co. FL grew its stake in shares of Cummins Inc. (NYSE:CMI) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 770 shares of the company’s stock after acquiring an additional 96 shares during the period. Capital City Trust Co. FL’s holdings in Cummins were worth $268,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Cummins during the fourth quarter valued at $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the third quarter valued at $32,000. Kestra Investment Management LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $43,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Cummins in the third quarter valued at $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $366.79 on Friday. The company’s fifty day moving average price is $361.51 and its 200 day moving average price is $341.71. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market capitalization of $50.43 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the business earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several research firms have commented on CMI. Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $386.67.

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.