9,466 Cummins Inc. $CMI Shares Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI) by 2,035.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,931 shares of the company’s stock after buying an additional 9,466 shares during the quarter. Ellsworth Advisors LLC’s holdings in Cummins were worth $5,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Valmark Advisers Inc. increased its stake in Cummins by 1.9% during the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after buying an additional 16 shares during the period. Guardian Partners Inc. lifted its stake in shares of Cummins by 1.0% in the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock worth $852,000 after acquiring an additional 16 shares during the period. Uhlmann Price Securities LLC lifted its stake in shares of Cummins by 2.4% in the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after acquiring an additional 17 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Cummins by 2.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock worth $681,000 after acquiring an additional 19 shares during the period. Finally, Mengis Capital Management Inc. lifted its stake in shares of Cummins by 0.3% in the 4th quarter. Mengis Capital Management Inc. now owns 6,463 shares of the company’s stock worth $3,299,000 after acquiring an additional 20 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Earl Newsome sold 698 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the sale, the vice president directly owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CMI shares. UBS Group lowered their price objective on shares of Cummins from $835.00 to $741.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. DA Davidson boosted their target price on Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. CICC Research assumed coverage on Cummins in a research note on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on Cummins from $874.00 to $760.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $708.18.

Cummins Price Performance

Shares of Cummins stock opened at $532.04 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $558.13 and its two-hundred day moving average price is $620.48. Cummins Inc. has a 52 week low of $405.82 and a 52 week high of $737.76. The stock has a market cap of $73.24 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. During the same quarter last year, the business posted $6.43 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins Inc. will post 30.10 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 annualized dividend and a yield of 1.7%. Cummins’s dividend payout ratio is currently 44.97%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.