TIAA Trust National Association Lowers Stake in Cummins Inc. (NYSE:CMI)

TIAA Trust National Association lessened its stake in Cummins Inc. (NYSE:CMI) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,397 shares of the company’s stock after selling 57 shares during the period. TIAA Trust National Association’s holdings in Cummins were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC increased its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department bought a new position in Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc purchased a new position in Cummins during the 4th quarter worth $27,000. TCTC Holdings LLC bought a new stake in Cummins during the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Cummins in the 4th quarter worth $30,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 1.2 %

Cummins stock opened at $323.93 on Friday. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The business has a fifty day moving average price of $353.22 and a 200-day moving average price of $347.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a market capitalization of $44.53 billion, a price-to-earnings ratio of 11.50, 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 business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.25%. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

Several equities analysts have recently commented on CMI shares. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. UBS Group lowered their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.