Eley Financial Management Inc Has $3.75 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Eley Financial Management Inc raised its holdings in Cummins Inc. (NYSE:CMI) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,647 shares of the company’s stock after acquiring an additional 92 shares during the quarter. Cummins comprises approximately 1.8% of Eley Financial Management Inc’s holdings, making the stock its 18th largest position. Eley Financial Management Inc’s holdings in Cummins were worth $3,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Balentine LLC increased its holdings in Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after buying an additional 127 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,866 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of Cummins in the 3rd quarter worth about $9,048,000. Capital Advisors Inc. OK bought a new stake in shares of Cummins in the 4th quarter worth about $24,915,000. Finally, SG Americas Securities LLC lifted its position in Cummins by 227.6% during the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after purchasing an additional 16,869 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMI shares. JPMorgan Chase & Co. increased their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Monday. Citigroup lifted their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Finally, TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus target price of $279.70.

Cummins Trading Up 0.2 %

CMI traded up $0.48 during trading on Friday, hitting $292.09. The company’s stock had a trading volume of 139,852 shares, compared to its average volume of 2,683,713. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The firm’s 50 day moving average price is $282.84 and its 200-day moving average price is $250.18. The stock has a market cap of $39.95 billion, a PE ratio of 56.25, a PEG ratio of 1.99 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 (NYSE:CMI) last issued its 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 net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the company posted $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. Cummins’s payout ratio is 129.73%.

Insider Activity

In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by corporate insiders.

Cummins 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.