Thompson Siegel & Walmsley LLC Sells 2,740 Shares of Cummins Inc. $CMI

Key Points

• Thompson Siegel & Walmsley cut its Cummins stake by 15.5% in the fourth quarter, selling 2,740 shares and leaving it with 14,905 shares worth about $7.6 million.
• Insiders have also been selling: VP Jennifer Mary Bush sold 5,000 shares and VP Donald G. Jackson sold 730 shares, with insiders selling 13,579 shares over the last 90 days.
• Analysts remain constructive on Cummins, with an average “Moderate Buy” rating and a consensus price target of $705.79, while the company recently beat quarterly EPS and revenue expectations and declared a $2.00 quarterly dividend.

Thompson Siegel & Walmsley LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,905 shares of the company's stock after selling 2,740 shares during the period. Thompson Siegel & Walmsley LLC's holdings in Cummins were worth $7,608,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new stake in Cummins during the fourth quarter valued at about $26,000. Activest Wealth Management boosted its holdings in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company's stock valued at $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC bought a new stake in Cummins during the fourth quarter valued at about $27,000. Ares Financial Consulting LLC bought a new stake in Cummins during the fourth quarter valued at about $29,000. Finally, Holos Integrated Wealth LLC bought a new stake in Cummins during the fourth quarter valued at about $32,000. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the company'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 transaction of $518,971.60. Following the transaction, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CMI. Wells Fargo & Company upped their price target on shares of Cummins from $693.00 to $794.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. 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 report on Wednesday, May 6th. Robert W. Baird set a $700.00 price objective on shares of Cummins in a report on Wednesday, May 6th. Sanford C. Bernstein restated a "market perform" rating on shares of Cummins in a report on Friday, May 22nd. Finally, Raymond James Financial boosted their price objective on shares of Cummins from $675.00 to $745.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $705.79.

Cummins Price Performance

NYSE:CMI opened at $644.17 on Tuesday. The firm has a market cap of $88.89 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company's 50-day moving average price is $625.81 and its two-hundred day moving average price is $571.66.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating analysts' consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.96 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 29.4 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a $2.00 dividend. The ex-dividend date is Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins's payout ratio is 41.52%.

About Cummins

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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