1,435 Cummins Inc. $CMI Shares Acquired by Berman McAleer LLC

Berman McAleer LLC lifted its position in Cummins Inc. (NYSE:CMI) by 121.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,621 shares of the company’s stock after purchasing an additional 1,435 shares during the quarter. Berman McAleer LLC’s holdings in Cummins were worth $1,354,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Valmark Advisers Inc. increased its position in Cummins by 1.9% during the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after buying an additional 16 shares during the period. Guardian Partners Inc. boosted its holdings in shares of Cummins by 1.0% in the first quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock valued at $852,000 after acquiring an additional 16 shares during the period. Uhlmann Price Securities LLC boosted its holdings in shares of Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after acquiring an additional 17 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of Cummins by 2.0% in the second quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock valued at $681,000 after acquiring an additional 19 shares during the period. Finally, Mengis Capital Management Inc. grew its position in shares of Cummins by 0.3% during the fourth 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 last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $530.72 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The stock has a fifty day moving average price of $555.86 and a 200 day moving average price of $619.86. Cummins Inc. has a 1-year low of $405.82 and a 1-year high of $737.76. The company has a market cap of $73.06 billion, a PE ratio of 27.12, a P/E/G ratio of 1.41 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 analysts’ consensus estimates of $7.21 by ($0.48). The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $6.43 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 29.98 EPS for the current year.

Cummins Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on CMI. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Citigroup decreased their price target on shares of Cummins from $790.00 to $630.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Sanford C. Bernstein reiterated a “market perform” rating and set a $700.00 price target on shares of Cummins in a research note on Wednesday, August 5th. 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 report on Wednesday, September 30th. Finally, CICC Research initiated coverage on shares of Cummins in a research note on Sunday, August 23rd. They issued an “outperform” rating and a $781.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $708.18.

Insider Activity at Cummins

In other news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the sale, the vice president owned 4,479 shares of the company’s stock, valued at $2,562,973.38. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.