DB Fitzpatrick & Co Inc Cuts Stake in Cummins Inc. (NYSE:CMI)

DB Fitzpatrick & Co Inc trimmed its stake in Cummins Inc. (NYSE:CMI) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,568 shares of the company’s stock after selling 1,724 shares during the quarter. Cummins comprises 1.1% of DB Fitzpatrick & Co Inc’s portfolio, making the stock its 29th largest position. DB Fitzpatrick & Co Inc’s holdings in Cummins were worth $1,244,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMI. PFG Investments LLC lifted its stake in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after purchasing an additional 485 shares in the last quarter. CWM LLC raised its holdings in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares during the period. Distillate Capital Partners LLC lifted its position in Cummins by 109,309.3% during the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after buying an additional 59,027 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in Cummins during the third quarter worth approximately $748,000. Finally, Franklin Resources Inc. increased its position in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $365.98 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $50.21 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The stock has a 50 day moving average of $363.14 and a 200-day moving average of $326.73.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.73 earnings per share. As a group, analysts forecast that Cummins Inc. will post 20.75 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird upped their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial lifted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday. Finally, StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $374.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. Insiders own 0.56% of the company’s stock.

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.