DB Fitzpatrick & Co Inc Has $531,000 Stock Position in Cummins Inc. $CMI

DB Fitzpatrick & Co Inc cut its stake in Cummins Inc. (NYSE:CMI) by 50.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the company’s stock after selling 990 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Cummins were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMI. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter valued at $26,000. Activest Wealth Management lifted its holdings in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Cummins in the fourth quarter valued at $27,000. Key Financial Inc grew its holdings in Cummins by 62.5% during the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in Cummins during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $662.21 on Friday. The company has a fifty day moving average price of $677.11 and a 200-day moving average price of $603.19. The firm has a market cap of $91.38 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.67 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. Cummins Inc. has a 1 year low of $325.25 and a 1 year high of $737.76.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $8.37 billion. During the same period in the prior year, the company posted $5.96 earnings per share. Cummins’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Cummins Inc. will post 29.31 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s payout ratio is currently 41.52%.

Analysts Set New Price Targets

CMI has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Truist Financial boosted their price target on Cummins from $815.00 to $901.00 and gave the company a “buy” rating in a research note on Thursday. Evercore restated an “outperform” rating and set a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Finally, Robert W. Baird set a $700.00 price objective on shares of Cummins in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $738.00.

Insider Buying and Selling at Cummins

In related news, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Nathan R. Stoner sold 607 shares of the stock in a transaction dated 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 in the company, valued at $6,556,784.82. This trade represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. Insiders own 0.30% of the company’s stock.

Cummins 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.