Patton Albertson Miller Group LLC Purchases 3,606 Shares of Cummins Inc. (NYSE:CMI)

Patton Albertson Miller Group LLC lifted its position in Cummins Inc. (NYSE:CMI - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,268 shares of the company's stock after purchasing an additional 3,606 shares during the period. Patton Albertson Miller Group LLC's holdings in Cummins were worth $5,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Balentine LLC grew its holdings in Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company's stock valued at $898,000 after buying an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Cummins by 200.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company's stock valued at $1,387,000 after acquiring an additional 3,866 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in Cummins in the 3rd quarter valued at $9,048,000. Capital Advisors Inc. OK purchased a new stake in Cummins in the 4th quarter worth $24,915,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Cummins by 227.6% during the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company's stock valued at $5,817,000 after purchasing an additional 16,869 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the business's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company's stock, valued at approximately $5,987,628.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated 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 completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The disclosure for this sale can be found here. Insiders have sold 55,169 shares of company stock valued at $14,689,855 in the last 90 days. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore ISI boosted their target price on Cummins from $231.00 to $244.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 20th. Bank of America cut shares of Cummins from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. The Goldman Sachs Group increased their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. UBS Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and upped their target price for the company from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their price target on Cummins from $245.00 to $275.00 and gave the stock an "underweight" rating in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and a consensus target price of $284.36.

Cummins Trading Up 1.4 %

Shares of CMI traded up $4.17 during mid-day trading on Friday, reaching $298.75. 755,548 shares of the company's stock traded hands, compared to its average volume of 2,493,989. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The stock's 50-day moving average is $287.00 and its two-hundred day moving average is $254.36. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The stock has a market cap of $40.86 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the company earned $4.52 EPS. The business's revenue was up 9.9% compared to the same quarter last year. Research analysts forecast that Cummins Inc. will post 18.45 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins's payout ratio is presently 49.19%.

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.

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