714 Shares in Cummins Inc. $CMI Purchased by Winthrop Partners WNY LLC

Winthrop Partners WNY LLC bought a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 714 shares of the company’s stock, valued at approximately $364,000.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of Cummins by 2.8% during the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after buying an additional 91,956 shares during the period. Accredited Wealth Management LLC grew its holdings in 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. Payden & Rygel purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $9,757,000. Jefferies Financial Group Inc. acquired a new stake in shares of Cummins in the 3rd quarter valued at $11,129,000. Finally, TIAA Trust National Association lifted its position in shares of Cummins by 836.5% during the 3rd quarter. TIAA Trust National Association now owns 35,117 shares of the company’s stock worth $14,832,000 after purchasing an additional 31,367 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $716.50 on Friday. Cummins Inc. has a one year low of $307.90 and a one year high of $737.76. The stock has a market capitalization of $98.87 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.75 and a beta of 1.23. The company has a 50-day simple moving average of $663.00 and a 200-day simple moving average of $590.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

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

Cummins Dividend Announcement

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

Insider Activity at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 8,316 shares in the company, valued at $5,912,010.72. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

CMI has been the topic of a number of analyst reports. Truist Financial set a $815.00 price target on Cummins in a research note on Wednesday, May 6th. Morgan Stanley raised their target price on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Citigroup upped their price target on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $731.86.

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.