Thompson Siegel & Walmsley LLC Has $7.61 Million Stake in Cummins Inc. $CMI

Thompson Siegel & Walmsley LLC trimmed its stake in shares of Cummins Inc. (NYSE:CMI) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,905 shares of the company’s stock after selling 2,740 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Cummins were worth $7,608,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CMI. Thompson Investment Management Inc. acquired a new position in shares of Cummins during the fourth quarter worth approximately $26,000. Activest Wealth Management lifted its position in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Cummins during the fourth quarter worth approximately $27,000. Ares Financial Consulting LLC acquired a new position in shares of Cummins during the fourth quarter worth approximately $29,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins during the second quarter worth approximately $31,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at $8,344,773.06. This represents a 29.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,579 shares of company stock valued at $9,377,684 over the last three months. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMI. Wells Fargo & Company boosted their price target on shares of Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Citigroup boosted their price target on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Argus boosted their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial set a $815.00 price target on shares of Cummins in a research note on Wednesday, May 6th. Finally, Barclays boosted their price target on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Cummins Stock Down 0.4%

Shares of CMI stock opened at $644.17 on Tuesday. The firm has a fifty day moving average of $625.81 and a 200-day moving average of $571.66. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08. The company has a market capitalization of $88.89 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.57 and a beta of 1.27.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $5.96 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Cummins Inc. will post 29.4 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. Cummins’s dividend payout ratio is currently 41.52%.

Cummins Company 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.