Dorsey & Whitney Trust CO LLC Buys 65 Shares of Cummins Inc. (NYSE:CMI)

Dorsey & Whitney Trust CO LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,411 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Cummins were worth $492,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Lifeworks Advisors LLC grew its stake in shares of Cummins by 10.4% during the fourth quarter. Lifeworks Advisors LLC now owns 10,658 shares of the company’s stock valued at $3,715,000 after purchasing an additional 1,004 shares during the last quarter. Larson Financial Group LLC boosted its stake in Cummins by 3.0% in the fourth quarter. Larson Financial Group LLC now owns 2,804 shares of the company’s stock valued at $977,000 after acquiring an additional 81 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in Cummins in the fourth quarter valued at approximately $202,000. Value Star Asset Management Hong Kong Ltd bought a new position in Cummins in the fourth quarter valued at approximately $1,394,000. Finally, Edgestream Partners L.P. boosted its stake in Cummins by 2,557.5% in the fourth quarter. Edgestream Partners L.P. now owns 19,453 shares of the company’s stock valued at $6,781,000 after acquiring an additional 18,721 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 2.4 %

Shares of NYSE:CMI opened at $333.82 on Tuesday. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $361.48 and its 200 day simple moving average is $346.72. The firm has a market cap of $45.89 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS 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 business 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 posted $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.18%. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMI. Robert W. Baird raised their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Truist Financial raised their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Evercore ISI increased their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $386.67.

Cummins 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.