Winthrop Partners WNY LLC Invests $364,000 in Cummins Inc. $CMI

Winthrop Partners WNY LLC bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 714 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Cummins by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after purchasing an additional 98,544 shares during the last quarter. State Street Corp raised its stake in shares of Cummins by 0.8% during the 4th quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after buying an additional 49,628 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cummins by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after buying an additional 35,286 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cummins by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after buying an additional 43,722 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after buying an additional 2,434,876 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.1%

Shares of NYSE CMI opened at $716.50 on Friday. The firm has a market cap of $98.87 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. The company’s 50-day simple moving average is $663.00 and its 200-day simple moving average is $590.68. 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 52-week low of $307.90 and a 52-week high of $737.76.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 29.31 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. Cummins’s payout ratio is 41.52%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CMI shares. Wells Fargo & Company lifted their price target on Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research report on Wednesday. Argus upped their price objective on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Robert W. Baird set a $700.00 price objective on shares of Cummins in a research note on Wednesday, May 6th. Truist Financial set a $815.00 target price on shares of Cummins in a report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $731.86.

Insider Activity at Cummins

In other Cummins news, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares of the company’s stock, valued at $5,912,010.72. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer directly owned 14,084 shares in the company, valued at approximately $9,652,328.56. The trade was a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 in the last three months. Company insiders own 0.30% of the company’s stock.

About Cummins

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.