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

Winthrop Capital Management LLC reduced its stake in Cummins Inc. (NYSE:CMI) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Accredited Wealth Management LLC purchased a new position in shares of Cummins in the 1st quarter valued at $31,000. Richardson Financial Services Inc. purchased a new position in shares of Cummins during the first quarter worth about $39,000. Costello Asset Management INC acquired a new stake in shares of Cummins during the first quarter worth about $40,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Cummins during the first quarter worth about $41,000. Finally, CNB Bank purchased a new stake in shares of Cummins in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMI. Evercore ISI restated an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Barclays increased their price objective on Cummins from $387.00 to $430.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Melius raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $428.93.

Insiders Place Their Bets

In other Cummins news, CFO Mark Andrew Smith sold 200 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $449.10, for a total transaction of $89,820.00. Following the transaction, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,183,476.20. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen H. Quintos sold 1,307 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the transaction, the director directly owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. This trade represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,949 shares of company stock worth $15,674,705 over the last quarter. 0.41% of the stock is owned by company insiders.

Cummins Stock Performance

NYSE:CMI opened at $474.10 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. The firm 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. The firm’s fifty day moving average price is $420.80 and its 200 day moving average price is $369.17. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $482.53.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same quarter in the prior year, the firm earned $5.86 EPS. Cummins’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be given a $2.00 dividend. The ex-dividend date is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.7%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

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.