TD Private Client Wealth LLC Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

TD Private Client Wealth LLC lowered its stake in Cummins Inc. (NYSE:CMI - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,239 shares of the company's stock after selling 873 shares during the quarter. TD Private Client Wealth LLC's holdings in Cummins were worth $5,661,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CMI. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares during the period. KG&L Capital Management LLC lifted its holdings in shares of Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock worth $1,155,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its position in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after purchasing an additional 30 shares during the period. Finally, Avestar Capital LLC increased its stake in Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

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Cummins Trading Down 0.2 %

CMI stock traded down $0.51 during trading on Tuesday, reaching $330.57. The company had a trading volume of 669,883 shares, compared to its average volume of 766,350. The business has a 50 day moving average of $355.39 and a 200 day moving average of $347.98. 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 company has a market cap of $45.45 billion, a P/E ratio of 11.73, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last released its 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. 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 the consensus estimate of $8.06 billion. During the same period in the prior year, the firm earned $4.14 EPS. The company's revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMI. Barclays lifted their price target on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. UBS Group dropped their price objective on Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $389.50.

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.