Cummins Inc. (NYSE:CMI) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its stake in Cummins Inc. (NYSE:CMI) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,632 shares of the company’s stock after selling 127 shares during the period. Whittier Trust Co.’s holdings in Cummins were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins during the fourth quarter valued at approximately $27,000. TCTC Holdings LLC purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter worth approximately $30,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 1.1 %

CMI stock opened at $321.78 on Friday. The firm has a market cap of $44.24 billion, a PE ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90. The company has a fifty day simple moving average of $355.99 and a 200 day simple moving average of $347.41. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.14 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI upped their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $389.50.

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.