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

DB Fitzpatrick & Co Inc reduced its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,568 shares of the company's stock after selling 1,724 shares during the period. Cummins accounts for 1.1% of DB Fitzpatrick & Co Inc's portfolio, making the stock its 29th biggest holding. DB Fitzpatrick & Co Inc's holdings in Cummins were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after purchasing an additional 126,703 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after buying an additional 165,398 shares during the period. Pathway Financial Advisers LLC increased its stake in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after buying an additional 2,523,854 shares in the last quarter. Legal & General Group Plc raised its holdings in Cummins by 1.9% during the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock valued at $468,503,000 after acquiring an additional 31,190 shares during the period. Finally, FMR LLC lifted its position in shares of Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company's stock valued at $380,484,000 after acquiring an additional 9,245 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Down 0.1 %

Shares of NYSE:CMI traded down $0.35 during trading hours on Friday, hitting $365.98. 810,985 shares of the company's stock traded hands, compared to its average volume of 505,817. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The business has a fifty day moving average price of $363.33 and a 200-day moving average price of $327.80. Cummins Inc. has a 1 year low of $226.52 and a 1 year high of $387.90. The firm has a market capitalization of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company posted $4.73 EPS. Cummins's quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the company's stock in a transaction 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 transaction, the vice president now directly owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last ninety days. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CMI. Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised Cummins from an "underweight" rating to a "neutral" rating and increased their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $374.25.

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.