Whittier Trust Co. of Nevada Inc. Acquires 124 Shares of Cummins Inc. (NYSE:CMI)

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,056 shares of the company’s stock after purchasing an additional 124 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Cummins were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its stake in Cummins by 870.9% during the fourth quarter. Teacher Retirement System of Texas now owns 85,102 shares of the company’s stock worth $29,667,000 after purchasing an additional 76,337 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Cummins in the 4th quarter valued at $413,000. Vinva Investment Management Ltd lifted its stake in shares of Cummins by 3.0% in the 4th quarter. Vinva Investment Management Ltd now owns 5,850 shares of the company’s stock valued at $2,038,000 after acquiring an additional 169 shares during the last quarter. North Forty Two & Co. bought a new position in shares of Cummins in the 4th quarter valued at $503,000. Finally, Enhancing Capital LLC bought a new position in shares of Cummins in the 4th quarter valued at $2,451,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $321.78 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $355.99 and a two-hundred day moving average price of $347.41. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a market cap of $44.24 billion, a P/E ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the business posted $4.14 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.26%. Cummins’s dividend payout ratio is presently 25.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CMI shares. JPMorgan Chase & Co. dropped their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI increased their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently 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.