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

Winthrop Capital Management LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,930 shares of the company’s stock after selling 178 shares during the period. Winthrop Capital Management LLC’s holdings in Cummins were worth $1,287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Vanguard Group Inc. lifted its stake in shares of Cummins by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock valued at $5,417,331,000 after purchasing an additional 321,823 shares during the last quarter. Northern Trust Corp raised its holdings in Cummins by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after buying an additional 22,202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cummins by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,634,580 shares of the company’s stock valued at $512,343,000 after buying an additional 8,487 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Cummins by 152.3% during the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock worth $424,414,000 after buying an additional 817,384 shares during the period. Finally, Invesco Ltd. boosted its stake in Cummins by 11.6% during the first quarter. Invesco Ltd. now owns 1,215,956 shares of the company’s stock worth $381,129,000 after buying an additional 126,362 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $474.10 on Friday. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $482.53. The company has a fifty day simple moving average of $420.80 and a two-hundred day simple moving average of $369.17. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The company has a market cap of $65.32 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. During the same period last year, the business posted $5.86 earnings per share. Cummins’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.7%. Cummins’s payout ratio is currently 41.52%.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. Melius upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Cummins in a research report on Wednesday. Barclays upped their price target on Cummins from $387.00 to $430.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $428.93.

Insider Activity

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $405.33, for a total value of $529,766.31. Following the sale, the director directly owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. This represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Amy Rochelle Davis sold 5,002 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the completion of the sale, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,949 shares of company stock valued at $15,674,705 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Cummins 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.