WINTON GROUP Ltd Sells 2,821 Shares of Cummins Inc. (NYSE:CMI)

WINTON GROUP Ltd lowered its holdings in shares of Cummins Inc. (NYSE:CMIGet Rating) by 73.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,045 shares of the company’s stock after selling 2,821 shares during the quarter. WINTON GROUP Ltd’s holdings in Cummins were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its stake in Cummins by 4.6% in the 1st quarter. BlackRock Inc. now owns 12,299,282 shares of the company’s stock valued at $2,522,705,000 after buying an additional 544,899 shares during the last quarter. First Trust Advisors LP grew its stake in Cummins by 21.2% in the 1st quarter. First Trust Advisors LP now owns 1,430,972 shares of the company’s stock valued at $293,507,000 after buying an additional 250,062 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Cummins by 151.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,542 shares of the company’s stock valued at $73,260,000 after buying an additional 228,142 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Cummins by 90.4% in the 1st quarter. Panagora Asset Management Inc. now owns 366,892 shares of the company’s stock valued at $75,253,000 after buying an additional 174,184 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after buying an additional 173,139 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

Insider Activity at Cummins

In related news, Vice Chairman Tony Satterthwaite sold 4,866 shares of Cummins stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $230.18, for a total transaction of $1,120,055.88. Following the completion of the transaction, the insider now directly owns 59,276 shares of the company’s stock, valued at approximately $13,644,149.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, Vice Chairman Tony Satterthwaite sold 4,866 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $230.18, for a total value of $1,120,055.88. Following the completion of the transaction, the insider now directly owns 59,276 shares of the company’s stock, valued at $13,644,149.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tracy A. Embree sold 12,535 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $238.17, for a total transaction of $2,985,460.95. Following the completion of the transaction, the insider now directly owns 18,436 shares of the company’s stock, valued at $4,390,902.12. The disclosure for this sale can be found here. Insiders sold 110,214 shares of company stock valued at $27,154,095 in the last ninety days. Insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Cummins to $270.00 in a research note on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cummins from $221.00 to $225.00 and gave the stock a “hold” rating in a research report on Thursday, October 13th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 4th. UBS Group raised their price target on shares of Cummins to $247.00 in a research report on Wednesday, November 16th. Finally, Credit Suisse Group raised their price target on shares of Cummins from $266.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus target price of $244.63.

Cummins Price Performance

Shares of Cummins stock opened at $246.85 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.84 and a current ratio of 1.37. The firm’s 50-day simple moving average is $226.57 and its 200-day simple moving average is $214.61. Cummins Inc. has a twelve month low of $184.27 and a twelve month high of $254.09. The firm has a market cap of $34.81 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05.

Cummins (NYSE:CMIGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($1.67). Cummins had a net margin of 7.32% and a return on equity of 22.48%. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.96 billion. As a group, research analysts expect that Cummins Inc. will post 17.35 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be issued a dividend of $1.57 per share. This represents a $6.28 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, November 17th. Cummins’s dividend payout ratio is currently 46.83%.

Cummins Company Profile

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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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

Further Reading

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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