Cummins Inc. $CMI Shares Sold by Windward Capital Management Co. CA

Key Points

• Windward Capital Management Co. CA trimmed its stake in Cummins (CMI) by 3.0%, selling 1,653 shares and leaving it with 52,628 shares worth about $26.86 million, roughly 2.1% of the firm's portfolio (its 13th largest holding).
• Multiple sell‑side firms raised targets and remain broadly positive — Barclays, JPMorgan, Morgan Stanley and Citigroup among them — leaving an average price target of $600.27 and a consensus rating of "Moderate Buy."
• Cummins beat quarterly expectations with $5.81 EPS (vs. $5.17 est.) on $8.54B revenue and recently paid a $2.00 quarterly dividend (annualized $8.00, ~1.2% yield).

Windward Capital Management Co. CA cut its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,628 shares of the company's stock after selling 1,653 shares during the quarter. Cummins comprises approximately 2.1% of Windward Capital Management Co. CA's portfolio, making the stock its 13th biggest holding. Windward Capital Management Co. CA's holdings in Cummins were worth $26,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Frank Rimerman Advisors LLC boosted its holdings in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock valued at $1,908,000 after acquiring an additional 18 shares during the last quarter. Financial Consulate Inc. raised its holdings in shares of Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after buying an additional 18 shares during the last quarter. Gilbert & Cook Inc. lifted its position in Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock worth $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC lifted its stake in Cummins by 2.1% during the fourth 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 last quarter. Finally, Red Door Wealth Management LLC boosted its position in shares of Cummins by 2.3% in 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. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of research analyst reports. Barclays lifted their price target on Cummins from $546.00 to $610.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lifted their target price on Cummins from $485.00 to $580.00 and gave the company a "neutral" rating in a research note on Wednesday, January 14th. Morgan Stanley reiterated an "overweight" rating and issued a $675.00 target price on shares of Cummins in a report on Friday, February 6th. UBS Group set a $565.00 price target on shares of Cummins and gave the stock a "neutral" rating in a report on Friday, February 6th. Finally, Citigroup lifted 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 analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Cummins presently has an average rating of "Moderate Buy" and an average target price of $600.27.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of Cummins stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the sale, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William I. Miller sold 18,107 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were 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 in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,195 shares of company stock valued at $18,397,489 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Cummins Stock Up 2.9%

CMI stock opened at $657.49 on Friday. The firm has a market cap of $90.84 billion, a PE ratio of 32.04, a PEG ratio of 2.02 and a beta of 1.14. Cummins Inc. has a 1 year low of $282.77 and a 1 year high of $663.01. The company has a fifty day simple moving average of $575.23 and a 200 day simple moving average of $528.25. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share 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 analysts' expectations of $8.09 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 26.03 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins's dividend payout ratio (DPR) is 38.99%.

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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