Winthrop Capital Management LLC Decreases Stock Position in Cummins Inc. $CMI

Winthrop Capital Management LLC trimmed its stake in shares of 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 institutional investor 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 large investors also recently bought and sold shares of CMI. Thompson Investment Management Inc. purchased a new position in shares of Cummins in the 4th quarter valued at about $26,000. Activest Wealth Management increased its stake 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 buying an additional 43 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. Ares Financial Consulting LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $29,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity

In other news, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $700.19, for a total value 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 approximately $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. This trade represents a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,579 shares of company stock worth $9,377,684 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Raymond James Financial lifted their price objective on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Evercore reiterated an “outperform” rating and set a $845.00 target price on shares of Cummins in a research note on Monday, May 11th. Truist Financial set a $815.00 price target on Cummins in a research note on Wednesday, May 6th. Finally, UBS Group set a $565.00 price objective on Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $705.79.

Cummins Trading Up 4.4%

NYSE:CMI opened at $671.93 on Wednesday. The company has a market capitalization of $92.72 billion, a PE ratio of 34.87, a P/E/G ratio of 1.57 and a beta of 1.23. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The stock’s 50 day moving average price is $625.81 and its 200 day moving average price is $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 (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.96 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 29.4 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a $2.00 dividend. The ex-dividend date is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio is 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.