Watchman Group Inc. Trims Holdings in Cummins Inc. (NYSE:CMI)

Watchman Group Inc. trimmed its stake in Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,357 shares of the company’s stock after selling 565 shares during the quarter. Cummins accounts for 1.2% of Watchman Group Inc.’s portfolio, making the stock its 21st biggest holding. Watchman Group Inc.’s holdings in Cummins were worth $4,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Schroder Investment Management Group grew its stake in shares of Cummins by 39.8% during the 4th quarter. Schroder Investment Management Group now owns 243,541 shares of the company’s stock valued at $84,852,000 after acquiring an additional 69,285 shares during the period. Allianz SE purchased a new stake in shares of Cummins during the 4th quarter valued at about $736,000. Hobbs Group Advisors LLC boosted its holdings in shares of Cummins by 82.5% in the 4th quarter. Hobbs Group Advisors LLC now owns 3,795 shares of the company’s stock worth $1,323,000 after purchasing an additional 1,716 shares during the period. Allstate Corp bought a new position in Cummins during the fourth quarter valued at $1,435,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Cummins by 5.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,718 shares of the company’s stock valued at $1,296,000 after buying an additional 179 shares during the period. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent research reports. Citigroup dropped their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Evercore ISI raised their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $389.50.

Cummins Trading Down 3.1 %

Shares of CMI opened at $313.45 on Friday. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The stock has a fifty day moving average of $352.17 and a two-hundred day moving average of $348.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market capitalization of $43.09 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. During the same period in the previous year, the firm earned $4.14 earnings per share. Cummins’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. Cummins’s payout ratio is 25.84%.

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.