Winthrop Capital Management LLC Cuts Stock Holdings in Cummins Inc. $CMI

Winthrop Capital Management LLC reduced its holdings in Cummins Inc. (NYSE:CMI) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,289 shares of the company’s stock after selling 839 shares during the quarter. Winthrop Capital Management LLC’s holdings in Cummins were worth $1,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC increased its holdings in Cummins by 2.8% in the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after buying an additional 91,956 shares in the last quarter. Accredited Wealth Management LLC boosted its stake in shares of Cummins by 3,100.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock worth $1,352,000 after acquiring an additional 3,100 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Cummins by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock worth $20,610,000 after acquiring an additional 2,574 shares in the last quarter. Strengthening Families & Communities LLC grew its holdings in shares of Cummins by 2,719.7% in the 3rd quarter. Strengthening Families & Communities LLC now owns 8,882 shares of the company’s stock worth $3,717,000 after acquiring an additional 8,567 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in Cummins in the 3rd quarter valued at approximately $11,129,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $671.93 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The stock has a fifty day moving average of $625.81 and a two-hundred day moving average of $571.66. The company has a market capitalization of $92.72 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 1.57 and a beta of 1.23. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08.

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, beating the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $5.96 earnings per share. On average, analysts anticipate that Cummins Inc. will post 29.4 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, May 22nd. Cummins’s dividend payout ratio is 41.52%.

Insider Activity at Cummins

In other news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares in the company, valued at $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. The trade was a 5.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,579 shares of company stock worth $9,377,684 over the last three months. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CMI shares. Wells Fargo & Company lifted their price objective on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. UBS Group set a $565.00 price target on Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Truist Financial set a $815.00 price objective on shares of Cummins in a research report on Wednesday, May 6th. Argus increased their price objective on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday. Finally, Raymond James Financial raised their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

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.