Fortem Financial Group LLC Has $1.03 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Fortem Financial Group LLC boosted its position in Cummins Inc. (NYSE:CMI - Free Report) by 249.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,175 shares of the company's stock after buying an additional 2,266 shares during the quarter. Fortem Financial Group LLC's holdings in Cummins were worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CMI. State Street Corp increased its holdings in shares of Cummins by 2.1% during the 3rd 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 during the period. Fisher Asset Management LLC boosted 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 in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock worth $469,869,000 after buying an additional 26,977 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock worth $468,503,000 after acquiring an additional 31,190 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Stock Down 2.0 %

Shares of CMI traded down $7.57 on Wednesday, hitting $370.15. The company's stock had a trading volume of 1,316,214 shares, compared to its average volume of 1,419,348. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm's fifty day moving average price is $350.70 and its 200-day moving average price is $312.03. The firm has a market capitalization of $50.78 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.84 and a beta of 0.99.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins's quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $4.73 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.97%. Cummins's payout ratio is currently 48.08%.

Analyst Ratings Changes

CMI has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Citigroup raised their price target on shares of Cummins from $415.00 to $435.00 and gave the company a "buy" rating in a report on Monday. Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Finally, Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $352.85.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last three months. Insiders own 0.56% of the company's stock.

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.