Dorsey & Whitney Trust CO LLC Has $492,000 Position in Cummins Inc. (NYSE:CMI)

Dorsey & Whitney Trust CO LLC raised its holdings in Cummins Inc. (NYSE:CMI) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,411 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Cummins were worth $492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Summit Global Investments acquired a new stake in Cummins in the 3rd quarter valued at $206,000. Leavell Investment Management Inc. acquired a new stake in Cummins in the 3rd quarter valued at $222,000. Equitable Trust Co. grew its position in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares during the period. Assetmark Inc. grew its position in shares of Cummins by 3.1% in the 3rd quarter. Assetmark Inc. now owns 17,937 shares of the company’s stock valued at $5,808,000 after acquiring an additional 533 shares during the period. Finally, Covestor Ltd grew its position in shares of Cummins by 112.6% in the 3rd quarter. Covestor Ltd now owns 423 shares of the company’s stock valued at $137,000 after acquiring an additional 224 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI stock opened at $333.82 on Tuesday. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a 50-day simple moving average of $361.48 and a 200 day simple moving average of $346.72. Cummins Inc. has a 52 week low of $260.88 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the previous year, the company earned $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company 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 company’s stock. According to data from MarketBeat.com, Cummins currently has a consensus 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.