PFG Advisors Acquires 1,860 Shares of Cummins Inc. $CMI

PFG Advisors lifted its stake in Cummins Inc. (NYSE:CMI) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,217 shares of the company’s stock after purchasing an additional 1,860 shares during the period. PFG Advisors’ holdings in Cummins were worth $4,315,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CMI. Flagship Wealth Advisors LLC bought a new stake in Cummins in the third quarter valued at about $28,000. Salomon & Ludwin LLC boosted its holdings in Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares during the last quarter. Guerra Advisors Inc bought a new position in Cummins during the third quarter worth about $36,000. Tripletail Wealth Management LLC acquired a new position in shares of Cummins during the 3rd quarter worth about $39,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins in the 2nd quarter valued at about $31,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI opened at $549.46 on Tuesday. The stock has a 50 day simple moving average of $571.48 and a 200 day simple moving average of $492.43. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The firm has a market capitalization of $75.91 billion, a PE ratio of 26.78, a P/E/G ratio of 1.71 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the company posted $5.16 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.5%. Cummins’s dividend payout ratio is currently 38.99%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird set a $580.00 price target on shares of Cummins in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a research report on Monday, January 26th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average price target of $588.93.

Insider Buying and Selling at Cummins

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the completion of the transaction, the vice president owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,195 shares of company stock valued at $18,397,489 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.