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

Valmark Advisers Inc. grew its position in shares of Cummins Inc. (NYSE:CMI) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 854 shares of the company’s stock after acquiring an additional 148 shares during the quarter. Valmark Advisers Inc.’s holdings in Cummins were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares in the last quarter. Fisher Asset Management LLC increased its stake in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after buying an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after buying an additional 2,523,854 shares in the last quarter. FMR LLC boosted its stake in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after buying an additional 9,245 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after buying an additional 972,247 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $379.21 on Wednesday. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90. The company has a market capitalization of $52.02 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 2.10 and a beta of 1.00. The company has a 50-day simple moving average of $360.89 and a 200 day simple moving average of $339.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31.

Cummins (NYSE:CMI) last issued its quarterly earnings data 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. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 earnings per share. On average, sell-side analysts predict that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.92%. Cummins’s payout ratio is presently 25.84%.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Robert W. Baird upped their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and an average target price 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.