Watchman Group Inc. Sells 2,108 Shares of Cummins Inc. $CMI

Watchman Group Inc. reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 18.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,156 shares of the company’s stock after selling 2,108 shares during the quarter. Cummins accounts for about 1.1% of Watchman Group Inc.’s holdings, making the stock its 21st biggest holding. Watchman Group Inc.’s holdings in Cummins were worth $4,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after buying an additional 98,544 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Cummins by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after buying an additional 91,956 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cummins by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company’s stock valued at $649,280,000 after purchasing an additional 7,372 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Cummins by 4.5% in the third quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company’s stock valued at $640,090,000 after purchasing an additional 64,822 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cummins

In related news, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Nathan R. Stoner sold 607 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total value of $421,294.42. Following the sale, the vice president directly owned 9,447 shares of the company’s stock, valued at $6,556,784.82. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,397 shares of company stock valued at $14,465,833 over the last ninety days. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMI shares. Evercore reiterated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research report on Monday, May 11th. Truist Financial set a $815.00 target price on Cummins in a research report on Wednesday, May 6th. Raymond James Financial increased their target price on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Wall Street Zen downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $677.87.

Cummins Price Performance

Shares of CMI opened at $677.20 on Tuesday. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The company has a market capitalization of $93.45 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The business has a 50-day moving average of $603.93 and a 200-day moving average of $557.42.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the company earned $5.96 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.