Dumont & Blake Investment Advisors LLC Sells 1,394 Shares of Cummins Inc. (NYSE:CMI)

Dumont & Blake Investment Advisors LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 50.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,394 shares of the company’s stock after selling 1,394 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Cummins were worth $451,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brookstone Capital Management lifted its stake in shares of Cummins by 33.3% in the first quarter. Brookstone Capital Management now owns 2,232 shares of the company’s stock worth $658,000 after buying an additional 558 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Cummins by 110.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,381 shares of the company’s stock valued at $996,000 after acquiring an additional 1,775 shares during the period. CRA Financial Services LLC acquired a new stake in shares of Cummins in the first quarter valued at about $202,000. River Street Advisors LLC grew its position in shares of Cummins by 4.9% in the first quarter. River Street Advisors LLC now owns 5,872 shares of the company’s stock valued at $1,730,000 after purchasing an additional 275 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Cummins by 51.8% during the 1st quarter. Cornerstone Wealth Group LLC now owns 34,140 shares of the company’s stock worth $10,059,000 after purchasing an additional 11,647 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMI. Robert W. Baird raised their target price on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Citigroup boosted their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James began coverage on shares of Cummins in a report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays boosted their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $311.55.

Cummins Trading Down 1.0 %

Shares of NYSE CMI opened at $329.17 on Friday. Cummins Inc. has a 1-year low of $212.80 and a 1-year high of $340.82. The company has a 50-day moving average of $315.70 and a two-hundred day moving average of $295.82. The company has a market cap of $45.02 billion, a PE ratio of 24.10, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

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

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.21%. Cummins’s payout ratio is 53.29%.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 4,780 shares of the firm’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 owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction on 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Company 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.