2,615 Shares in Cummins Inc. (NYSE:CMI) Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,615 shares of the company’s stock, valued at approximately $626,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cummins by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock worth $4,057,750,000 after acquiring an additional 2,055,239 shares in the last quarter. Morgan Stanley raised its stake in shares of Cummins by 2.7% during the 3rd quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock worth $433,799,000 after acquiring an additional 50,476 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cummins by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock worth $414,821,000 after acquiring an additional 69,830 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Cummins by 0.9% during the 3rd quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock worth $365,430,000 after acquiring an additional 13,634 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Cummins by 28.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock valued at $244,710,000 after purchasing an additional 235,372 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.0 %

CMI stock opened at $290.36 on Tuesday. The firm’s fifty day simple moving average is $280.93 and its 200-day simple moving average is $249.14. The company has a market capitalization of $39.71 billion, a P/E ratio of 56.05, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same period last year, the company posted $4.52 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Cummins Inc. will post 18.31 earnings per share for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and upped their price target for the company from $254.00 to $321.00 in a research note on Friday, March 15th. TD Cowen upped their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Evercore ISI upped their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Finally, Citigroup upped their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $279.70.

Insider Buying and Selling

In other news, Director Daniel William Fisher purchased 562 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the acquisition, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel William Fisher acquired 562 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 51,289 shares of company stock valued at $13,576,838. Corporate insiders own 0.56% of the company’s stock.

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.