Deutsche Bank AG Sells 2,060 Shares of Cummins Inc. (NYSE:CMI)

Deutsche Bank AG lessened its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 572,714 shares of the company's stock after selling 2,060 shares during the period. Deutsche Bank AG owned about 0.42% of Cummins worth $199,648,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. grew its stake in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new position in shares of Cummins in the fourth quarter worth about $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMI. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Robert W. Baird cut their target price on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Citigroup upped their price target on Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday. Morgan Stanley upped their target price on Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $354.83.

Cummins Stock Performance

Shares of NYSE:CMI traded up $4.09 during midday trading on Tuesday, reaching $334.68. 965,392 shares of the company's stock traded hands, compared to its average volume of 810,038. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The stock has a 50 day moving average of $304.34 and a 200 day moving average of $341.47. 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 market cap of $46.10 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.19 and a beta of 1.02.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.08 EPS. As a group, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.18%. Cummins's dividend payout ratio (DPR) is presently 36.22%.

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.