Symphony Financial Ltd. Co. Has $1.65 Million Holdings in Cummins Inc. (NYSE:CMI)

Symphony Financial Ltd. Co. increased its stake in Cummins Inc. (NYSE:CMI) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,069 shares of the company’s stock after purchasing an additional 778 shares during the period. Symphony Financial Ltd. Co.’s holdings in Cummins were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chicago Capital LLC lifted its holdings in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its holdings in Cummins by 0.7% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after buying an additional 35 shares during the period. EP Wealth Advisors LLC lifted its holdings in Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares during the period. Fidelis Capital Partners LLC lifted its holdings in Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after buying an additional 38 shares during the period. Finally, Bangor Savings Bank lifted its holdings in Cummins by 39.2% in the second quarter. Bangor Savings Bank now owns 142 shares of the company’s stock valued at $39,000 after buying an additional 40 shares during the period. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMI has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Robert W. Baird upped their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Raymond James assumed coverage on shares of Cummins in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $311.55.

Cummins Trading Down 0.9 %

NYSE:CMI opened at $330.76 on Wednesday. Cummins Inc. has a one year low of $212.80 and a one year high of $340.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The firm has a 50-day moving average of $314.29 and a 200-day moving average of $295.33. The company has a market cap of $45.24 billion, a PE ratio of 24.21, a PEG ratio of 1.92 and a beta of 0.98.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the prior year, the firm posted $5.18 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 19.77 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s payout ratio is 53.29%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

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.