Eley Financial Management Inc Purchases 92 Shares of Cummins Inc. (NYSE:CMI)

Eley Financial Management Inc grew its stake in shares of Cummins Inc. (NYSE:CMI) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 15,647 shares of the company’s stock after buying an additional 92 shares during the period. Cummins comprises 1.8% of Eley Financial Management Inc’s portfolio, making the stock its 18th biggest holding. Eley Financial Management Inc’s holdings in Cummins were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in CMI. SG Americas Securities LLC grew its stake in shares of Cummins by 9.5% during the third quarter. SG Americas Securities LLC now owns 7,412 shares of the company’s stock valued at $1,693,000 after buying an additional 642 shares during the last quarter. Summit Global Investments bought a new stake in shares of Cummins in the third quarter worth about $437,000. GHP Investment Advisors Inc. grew its stake in shares of Cummins by 5.7% in the third quarter. GHP Investment Advisors Inc. now owns 15,141 shares of the company’s stock worth $3,448,000 after purchasing an additional 811 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Cummins by 5.5% in the third quarter. Koshinski Asset Management Inc. now owns 1,626 shares of the company’s stock worth $371,000 after purchasing an additional 85 shares during the last quarter. Finally, NovaPoint Capital LLC lifted its holdings in Cummins by 13.4% in the third quarter. NovaPoint Capital LLC now owns 12,243 shares of the company’s stock worth $2,797,000 after buying an additional 1,444 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 value of $569,709.00. Following the sale, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the sale, the chief executive officer now owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock valued at $13,576,838 over the last 90 days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CMI. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Citigroup boosted their price objective on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $279.70.

Cummins Trading Up 0.2 %

NYSE:CMI traded up $0.48 during mid-day trading on Friday, hitting $292.09. 139,852 shares of the stock traded hands, compared to its average volume of 2,683,713. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 1.99 and a beta of 1.04. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $304.24. The firm’s 50 day moving average is $282.84 and its two-hundred day moving average is $250.18. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. On average, equities research analysts predict that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

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 dividend of $1.68 per share. The ex-dividend date of this dividend 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%.

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.