TD Private Client Wealth LLC Has $5.41 Million Stake in Cummins Inc. (NYSE:CMI)

TD Private Client Wealth LLC boosted its position in Cummins Inc. (NYSE:CMI - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,267 shares of the company's stock after purchasing an additional 1,028 shares during the period. TD Private Client Wealth LLC's holdings in Cummins were worth $5,412,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares during the last quarter. TCTC Holdings LLC acquired a new stake in Cummins during the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Cummins during the fourth quarter worth approximately $30,000. Capital A Wealth Management LLC acquired a new stake in Cummins during the fourth quarter worth approximately $32,000. Finally, Olde Wealth Management LLC acquired a new stake in Cummins during the first quarter worth approximately $30,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CMI. Robert W. Baird cut their price objective on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group raised shares of Cummins from a "neutral" rating to a "buy" rating and raised their target price for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. Truist Financial lowered their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their target price for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Finally, Wall Street Zen cut shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $358.08.

Cummins Price Performance

Cummins stock traded up $4.25 during mid-day trading on Tuesday, reaching $332.10. The company had a trading volume of 168,558 shares, compared to its average volume of 771,805. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The company has a market cap of $45.75 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.00 and a beta of 1.03. The business has a fifty day simple moving average of $320.19 and a 200 day simple moving average of $331.24.

Cummins (NYSE:CMI - Get Free Report) last issued 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. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the business posted $5.08 earnings per share. The company's quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.19%. Cummins's dividend payout ratio (DPR) is presently 36.22%.

Insider Activity at Cummins

In other Cummins news, Director John H. Stone purchased 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the acquisition, the director owned 2,441 shares in the company, valued at approximately $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company's stock.

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.