Valmark Advisers Inc. Has $298,000 Stock Position in Cummins Inc. (NYSE:CMI)

Valmark Advisers Inc. increased its stake in Cummins Inc. (NYSE:CMI) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 854 shares of the company’s stock after purchasing an additional 148 shares during the period. Valmark Advisers Inc.’s holdings in Cummins were worth $298,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Cummins by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 408 shares of the company’s stock worth $132,000 after acquiring an additional 227 shares during the period. Creative Planning raised its position in Cummins by 0.3% during the third quarter. Creative Planning now owns 60,996 shares of the company’s stock valued at $19,750,000 after purchasing an additional 203 shares in the last quarter. Blue Trust Inc. lifted its stake in Cummins by 22.1% during the third quarter. Blue Trust Inc. now owns 1,530 shares of the company’s stock worth $495,000 after purchasing an additional 277 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Cummins by 4.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 932 shares of the company’s stock valued at $302,000 after purchasing an additional 43 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in shares of Cummins by 1,197.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 18,904 shares of the company’s stock valued at $6,121,000 after purchasing an additional 17,447 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $379.21 on Wednesday. The stock’s 50 day moving average is $360.89 and its 200 day moving average is $339.87. Cummins Inc. has a one year low of $259.06 and a one year high of $387.90. The firm has a market cap of $52.02 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the company earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.92%. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays raised their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $383.08.

Cummins Profile

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.