Donaldson Capital Management LLC Has $4.24 Million Holdings in Cummins Inc. (NYSE:CMI)

Donaldson Capital Management LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,082 shares of the company’s stock after selling 781 shares during the period. Donaldson Capital Management LLC’s holdings in Cummins were worth $4,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMI. PFG Investments LLC lifted its stake in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares during the period. CWM LLC lifted its position in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,786 shares during the period. Distillate Capital Partners LLC grew its holdings in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after purchasing an additional 59,027 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Cummins during the second quarter valued at approximately $16,329,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Cummins by 13.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock valued at $55,073,000 after purchasing an additional 21,850 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Cummins Stock Down 0.1 %

Shares of NYSE CMI opened at $328.51 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The company has a market cap of $45.02 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $340.82. The firm’s 50-day simple moving average is $318.94 and its 200 day simple moving average is $297.15.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same quarter last year, the business posted $5.18 earnings per share. Cummins’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 19.96 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.22%. Cummins’s dividend payout ratio (DPR) is currently 52.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CMI shares. Truist Financial boosted their price target on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Citigroup raised their target price on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $311.55.

About Cummins

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.