Windward Capital Management Co. CA Sells 237 Shares of Cummins Inc. (CMI)
Windward Capital Management Co. CA cut its stake in Cummins Inc. (NYSE:CMI) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,933 shares of the company’s stock after selling 237 shares during the period. Cummins accounts for about 1.1% of Windward Capital Management Co. CA’s investment portfolio, making the stock its 29th largest position. Windward Capital Management Co. CA’s holdings in Cummins were worth $5,630,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Manhattan Co. raised its stake in shares of Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock valued at $107,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Cummins during the second quarter valued at approximately $109,000. Signaturefd LLC raised its stake in shares of Cummins by 17.1% in the second quarter. Signaturefd LLC now owns 1,111 shares of the company’s stock valued at $125,000 after buying an additional 162 shares during the last quarter. Kanaly Trust Co raised its stake in shares of Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock valued at $125,000 after buying an additional 34 shares during the last quarter. Finally, FCM Investments TX raised its stake in shares of Cummins by 33.3% in the second quarter. FCM Investments TX now owns 1,200 shares of the company’s stock valued at $135,000 after buying an additional 300 shares during the last quarter. Institutional investors own 79.62% of the company’s stock.
Cummins Inc. (NYSE:CMI) traded up 2.58% on Wednesday, reaching $141.78. The company’s stock had a trading volume of 1,923,461 shares. The stock has a 50 day moving average price of $130.55 and a 200-day moving average price of $121.95. The company has a market capitalization of $23.76 billion, a price-to-earnings ratio of 20.60 and a beta of 1.32. Cummins Inc. has a 1-year low of $79.88 and a 1-year high of $142.68.
Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 1st. The company reported $2.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.06. Cummins had a net margin of 6.62% and a return on equity of 19.47%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Cummins’s revenue was down 9.4% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post $8.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 21st will be issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Cummins’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, November 17th. Cummins’s dividend payout ratio (DPR) is presently 59.33%.
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CMI has been the topic of a number of research analyst reports. Vetr downgraded Cummins from a “strong-buy” rating to a “buy” rating and set a $141.73 target price on the stock. in a research report on Tuesday, October 18th. Goldman Sachs Group Inc. upgraded Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the company from $134.00 to $162.00 in a research report on Tuesday, October 11th. began coverage on Cummins in a research report on Friday, September 30th. They issued a “buy” rating and a $150.00 target price on the stock. Evercore ISI upgraded Cummins from a “hold” rating to a “buy” rating and lifted their target price for the company from $113.00 to $144.00 in a research report on Monday, November 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $109.00 target price (up previously from $103.00) on shares of Cummins in a research report on Wednesday, November 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $118.99.
In other news, CAO Marya M. Rose sold 5,450 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $136.40, for a total transaction of $743,380.00. Following the completion of the sale, the chief accounting officer now owns 20,193 shares in the company, valued at approximately $2,754,325.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marsha L. Hunt sold 5,910 shares of Cummins stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $128.10, for a total transaction of $757,071.00. Following the completion of the sale, the vice president now owns 4,382 shares of the company’s stock, valued at approximately $561,334.20. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets.
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