TD Private Client Wealth LLC Has $5.66 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

TD Private Client Wealth LLC decreased its position in shares of Cummins Inc. (NYSE:CMI) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,239 shares of the company’s stock after selling 873 shares during the period. TD Private Client Wealth LLC’s holdings in Cummins were worth $5,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC boosted its position 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 in the last quarter. BankPlus Trust Department bought a new position in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in Cummins in the 4th quarter valued at approximately $27,000. TCTC Holdings LLC bought a new position in Cummins in the 4th quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.5 %

CMI opened at $325.38 on Friday. 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 stock has a market cap of $44.73 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a fifty day moving average of $356.66 and a 200-day moving average of $347.05. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90.

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

Cummins Dividend Announcement

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 $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CMI. JPMorgan Chase & Co. dropped their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday. Evercore ISI increased their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird raised their price target 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. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $389.50.

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.