Cummins Inc. (NYSE:CMI) Holdings Lowered by Watchman Group Inc.

Watchman Group Inc. lowered its holdings in Cummins Inc. (NYSE:CMI) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,357 shares of the company’s stock after selling 565 shares during the period. Cummins makes up 1.2% of Watchman Group Inc.’s portfolio, making the stock its 21st biggest position. Watchman Group Inc.’s holdings in Cummins were worth $4,656,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter valued at $27,000. TCTC Holdings LLC acquired a new position in Cummins in the fourth quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins in the 4th quarter valued at $30,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

Shares of NYSE:CMI opened at $313.45 on Friday. The firm has a market cap of $43.09 billion, a PE ratio of 11.13, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average price is $352.17 and its two-hundred day moving average price is $348.41.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS 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 company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business earned $4.14 earnings per share. Cummins’s revenue was down 1.1% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company 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 2.32%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Barclays raised their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $389.50.

Cummins Company 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.