J.W. Cole Advisors Inc. Buys 727 Shares of Cummins Inc. (NYSE:CMI)

J.W. Cole Advisors Inc. lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 28.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,299 shares of the company’s stock after acquiring an additional 727 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Cummins were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of Cummins in the 2nd quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins in the second quarter worth approximately $28,000. Lynx Investment Advisory acquired a new position in Cummins in the second quarter valued at approximately $29,000. LRI Investments LLC bought a new position in shares of Cummins during the 1st quarter worth approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $34,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on CMI shares. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Citigroup upped their target price on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Barclays lifted their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $311.55.

Insider Buying and Selling at Cummins

In other news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $331.21 on Wednesday. The business has a 50 day moving average of $317.53 and a 200-day moving average of $296.39. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $340.82. The firm has a market cap of $45.30 billion, a PE ratio of 24.25, a P/E/G ratio of 1.92 and a beta of 0.98.

Cummins (NYSE:CMI) last released its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same period in the previous year, the company earned $5.18 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 53.29%.

Cummins Company Profile

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.