Advocate Group LLC Has $9.88 Million Stock Holdings in Cummins Inc. $CMI

Advocate Group LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 12.6% during the 4th quarter, HoldingsChannel reports. The fund owned 19,346 shares of the company’s stock after selling 2,790 shares during the quarter. Cummins makes up approximately 1.6% of Advocate Group LLC’s investment portfolio, making the stock its 21st biggest holding. Advocate Group LLC’s holdings in Cummins were worth $9,875,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CMI. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Cummins during the 3rd quarter worth about $28,000. Osterweis Capital Management Inc. bought a new position in shares of Cummins during the 2nd quarter worth about $31,000. Holos Integrated Wealth LLC acquired a new stake in shares of Cummins during the 4th quarter valued at about $32,000. Finally, Guerra Advisors Inc acquired a new stake in shares of Cummins during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $549.83 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The firm has a market cap of $75.96 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The company’s 50-day moving average price is $567.38 and its two-hundred day moving average price is $510.41.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $5.16 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird set a $580.00 price target on shares of Cummins in a research report on Friday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays increased their target price on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Wells Fargo & Company boosted their price target on Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Insider Transactions at Cummins

In other news, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the sale, the vice president directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president directly owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This represents a 20.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is owned by company insiders.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.