Wintrust Investments LLC Sells 661 Shares of Cummins Inc. (NYSE:CMI)

Wintrust Investments LLC lowered its position in shares of Cummins Inc. (NYSE:CMI) by 81.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154 shares of the company’s stock after selling 661 shares during the period. Wintrust Investments LLC’s holdings in Cummins were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. KG&L Capital Management LLC lifted its stake in shares of Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the last quarter. Massachusetts Wealth Management lifted its stake in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the last quarter. Avestar Capital LLC lifted its stake in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after acquiring an additional 31 shares during the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in shares of Cummins by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $568,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 5.5 %

CMI opened at $312.65 on Friday. The firm has a market cap of $42.98 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $360.03 and a 200 day moving average of $346.51.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 earnings per share. As a group, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Analysts Set New Price Targets

A number of research firms have commented on CMI. Jefferies Financial Group upped their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $386.67.

About Cummins

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 Accelera. 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 parts and services, as well as remanufactured parts and engines.