Manchester Capital Management LLC Trims Holdings in Cummins Inc. (NYSE:CMI)

Manchester Capital Management LLC trimmed its position in Cummins Inc. (NYSE:CMIFree Report) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 878 shares of the company’s stock after selling 255 shares during the quarter. Manchester Capital Management LLC’s holdings in Cummins were worth $210,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Bison Wealth LLC raised its stake in shares of Cummins by 3.6% in the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after purchasing an additional 42 shares during the last quarter. KB Financial Partners LLC raised its stake in shares of Cummins by 1.3% in the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after purchasing an additional 45 shares during the last quarter. Edmp Inc. raised its position in Cummins by 0.8% during the fourth quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after acquiring an additional 46 shares in the last quarter. Ledge Wealth Management Inc. raised its position in Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after acquiring an additional 48 shares in the last quarter. Finally, Peloton Wealth Strategists raised its position in Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after acquiring an additional 50 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Truist Financial reissued a “hold” rating and issued a $319.00 price objective on shares of Cummins in a report on Wednesday. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus target price of $284.36.

Get Our Latest Analysis on Cummins

Cummins Trading Down 0.8 %

CMI traded down $2.29 during trading hours on Friday, reaching $285.56. The company’s stock had a trading volume of 1,060,345 shares, compared to its average volume of 969,709. The stock has a market cap of $39.06 billion, a PE ratio of 20.90, a P/E/G ratio of 1.79 and a beta of 1.04. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The business’s 50-day moving average is $289.61 and its 200-day moving average is $257.75.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 24th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 23rd. Cummins’s dividend payout ratio is presently 49.19%.

Insider Buying and Selling

In related news, Director Daniel William Fisher bought 562 shares of the stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel William Fisher bought 562 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 43,430 shares of company stock valued at $11,608,848. 0.56% of the stock is currently owned by insiders.

Cummins Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMIFree Report).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.