Private Trust Co. NA Trims Position in Cummins Inc. (NYSE:CMI)

Private Trust Co. NA lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,412 shares of the company’s stock after selling 331 shares during the period. Private Trust Co. NA’s holdings in Cummins were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CMI. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department purchased a new position in shares of Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the 4th quarter worth $27,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins during the 3rd quarter worth $32,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Cummins during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $367.90 on Friday. The company has a market cap of $50.58 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.19 and a beta of 1.00. 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 stock has a 50-day moving average of $362.32 and a two-hundred day moving average of $344.54. Cummins Inc. has a 1-year low of $260.88 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 EPS. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CMI shares. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research downgraded 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. Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. 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. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $386.67.

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.