Cummins Inc. $CMI Shares Sold by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management cut its stake in Cummins by 68.3% in Q4, selling 2,658 shares and leaving 1,232 shares valued at about $629,000, while institutional investors now own roughly 83.46% of the stock.
• Cummins topped expectations for the quarter with EPS of $5.81 vs. $5.17 expected and revenue of $8.54B, and pays a quarterly dividend of $2.00 (annualized $8.00, yield ~1.2%).
• Company insiders sold a total of 31,195 shares (~$18.4M) last quarter — including director William Miller's 18,107-share sale — even as analysts maintain a consensus rating of "Moderate Buy" with price targets rising up to $710 and the stock trading near its 1-year high.

GC Wealth Management RIA LLC cut its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 68.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,232 shares of the company's stock after selling 2,658 shares during the period. GC Wealth Management RIA LLC's holdings in Cummins were worth $629,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Frank Rimerman Advisors LLC boosted its holdings in shares of Cummins by 0.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock valued at $1,908,000 after buying an additional 18 shares during the period. Financial Consulate Inc. boosted its position in Cummins by 16.8% during the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after purchasing an additional 18 shares during the period. Gilbert & Cook Inc. boosted its position in Cummins by 1.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock valued at $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC boosted its position in Cummins by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company's stock valued at $501,000 after purchasing an additional 20 shares during the period. Finally, Red Door Wealth Management LLC boosted its position in Cummins by 2.3% during the 4th quarter. Red Door Wealth Management LLC now owns 878 shares of the company's stock valued at $448,000 after purchasing an additional 20 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 5.3%

Shares of CMI stock opened at $672.51 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a 1 year low of $290.73 and a 1 year high of $674.75. The stock has a fifty day moving average of $581.03 and a two-hundred day moving average of $536.06. The firm has a market capitalization of $92.91 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the firm posted $5.16 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts expect that Cummins Inc. will post 26.03 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, February 20th. Cummins's dividend payout ratio is currently 38.99%.

Wall Street Analyst Weigh In

CMI has been the subject of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Cummins in a research report on Friday, April 10th. UBS Group set a $565.00 target price on shares of Cummins and gave the company a "neutral" rating in a research note on Friday, February 6th. Raymond James Financial boosted their target price on shares of Cummins from $585.00 to $675.00 and gave the company an "outperform" rating in a research note on Monday, February 9th. Argus set a $696.00 target price on shares of Cummins in a research note on Tuesday, February 10th. Finally, Citigroup boosted their target price on shares of Cummins from $630.00 to $710.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $600.27.

Insider Buying and Selling

In other news, VP Earl Newsome sold 1,300 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares of the company's stock, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the sale, the director directly owned 34,243 shares of the company's stock, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,195 shares of company stock worth $18,397,489. Company insiders own 0.30% of the company's stock.

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.

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