Whittier Trust Co. of Nevada Inc. Has $368,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

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

Several other large investors have also added to or reduced their stakes in CMI. Avior Wealth Management LLC lifted its position in Cummins by 44.9% in the 3rd quarter. Avior Wealth Management LLC now owns 342 shares of the company’s stock valued at $111,000 after acquiring an additional 106 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter valued at about $32,000. LPL Financial LLC lifted its position in Cummins by 6.1% in the 3rd quarter. LPL Financial LLC now owns 317,000 shares of the company’s stock valued at $102,641,000 after acquiring an additional 18,294 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cummins by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 866,715 shares of the company’s stock valued at $280,634,000 after acquiring an additional 6,608 shares in the last quarter. Finally, Allen Capital Group LLC lifted its position in Cummins by 5.2% in the 3rd quarter. Allen Capital Group LLC now owns 1,157 shares of the company’s stock valued at $375,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Evercore ISI lifted their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Trading Down 1.1 %

Shares of CMI stock opened at $321.78 on Friday. The company has a 50 day moving average of $355.99 and a 200-day moving average of $347.41. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The firm 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the business earned $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate 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. Investors 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 dividend on an annualized basis and a yield of 2.26%. Cummins’s dividend payout ratio is 25.84%.

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.