Cummins Inc. (NYSE:CMI) Shares Acquired by Crumly & Associates Inc.

Crumly & Associates Inc. grew its holdings in Cummins Inc. (NYSE:CMI) by 33.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,345 shares of the company’s stock after purchasing an additional 590 shares during the period. Crumly & Associates Inc.’s holdings in Cummins were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in shares of Cummins in the 4th quarter valued at $2,060,000. Crestwood Advisors Group LLC purchased a new stake in shares of Cummins in the 4th quarter valued at $435,000. Graypoint LLC raised its holdings in shares of Cummins by 21.4% in the 4th quarter. Graypoint LLC now owns 1,255 shares of the company’s stock valued at $301,000 after buying an additional 221 shares during the period. Baystate Wealth Management LLC raised its holdings in shares of Cummins by 63.6% in the 4th quarter. Baystate Wealth Management LLC now owns 247 shares of the company’s stock valued at $59,000 after buying an additional 96 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Cummins during the 4th quarter worth about $195,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMI shares. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Morgan Stanley started coverage on Cummins in a report on Monday, January 8th. They set an “overweight” rating and a $278.00 price target on the stock. Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $243.00 to $225.00 in a report on Friday, January 19th. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and upped their price target for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $276.10.

Insiders Place Their Bets

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the 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 completion of the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the 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 completion of the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. 1.12% of the stock is owned by company insiders.

Cummins Stock Down 1.4 %

Shares of NYSE:CMI traded down $4.23 on Friday, hitting $298.63. 866,451 shares of the company’s stock were exchanged, compared to its average volume of 3,095,263. The firm’s 50-day moving average is $275.89 and its 200 day moving average is $246.16. The company has a market capitalization of $40.84 billion, a PE ratio of 57.65, a P/E/G ratio of 2.06 and a beta of 1.04. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18.

Cummins (NYSE:CMI) last announced 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). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $4.52 earnings per share. Sell-side analysts predict that Cummins Inc. will post 18.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.25%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.