Donaldson Capital Management LLC Decreases Stock Position in Cummins Inc. (NYSE:CMI)

Donaldson Capital Management LLC lowered its position in Cummins Inc. (NYSE:CMI - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,382 shares of the company's stock after selling 4,012 shares during the period. Cummins makes up approximately 2.2% of Donaldson Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Donaldson Capital Management LLC owned approximately 0.14% of Cummins worth $48,485,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Flputnam Investment Management Co. raised its stake in shares of Cummins by 5.8% during the fourth quarter. Flputnam Investment Management Co. now owns 17,361 shares of the company's stock valued at $4,159,000 after acquiring an additional 945 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Cummins during the fourth quarter valued at approximately $431,000. B&D White Capital Company LLC bought a new stake in shares of Cummins during the fourth quarter valued at approximately $551,000. Bison Wealth LLC raised its stake in shares of Cummins by 3.6% during the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company's stock valued at $293,000 after acquiring an additional 42 shares in the last quarter. Finally, Cullen Investment Group LTD. bought a new stake in shares of Cummins during the fourth quarter valued at approximately $4,152,000. Institutional investors own 83.46% of the company's stock.

Analyst Ratings Changes

CMI has been the subject of several research analyst reports. TD Cowen lifted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Truist Financial assumed coverage on shares of Cummins in a report on Thursday, March 14th. They set a "hold" rating and a $303.00 price objective on the stock. Bank of America lowered shares of Cummins from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an "underweight" rating in a report on Monday, March 25th. Finally, Morgan Stanley assumed coverage on shares of Cummins in a report on Monday, January 8th. They set an "overweight" rating and a $278.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $276.10.

Insider Activity

In other Cummins news, Director Daniel William Fisher bought 562 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares of the company's stock, valued at approximately $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Tony Satterthwaite sold 37,450 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel William Fisher bought 562 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares of the company's stock, valued at $284,696.76. The disclosure for this purchase can be found here. Insiders have sold 51,289 shares of company stock valued at $13,576,838 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Cummins Stock Performance

Shares of CMI traded down $2.85 during trading hours on Monday, reaching $295.78. 798,899 shares of the company traded hands, compared to its average volume of 2,905,152. The stock has a market capitalization of $40.45 billion, a P/E ratio of 57.10, a P/E/G ratio of 2.03 and a beta of 1.04. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The business has a fifty day moving average price of $276.99 and a 200-day moving average price of $246.85.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts' consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analysts' expectations of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned $4.52 earnings per share. Equities analysts anticipate that Cummins Inc. will post 18.29 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Thursday, February 22nd. Cummins's dividend payout ratio (DPR) is presently 129.73%.

Cummins 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.