SGL Investment Advisors Inc. Invests $6.07 Million in Cummins Inc. (NYSE:CMI)

SGL Investment Advisors Inc. bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,745 shares of the company's stock, valued at approximately $6,069,000. Cummins accounts for approximately 3.1% of SGL Investment Advisors Inc.'s portfolio, making the stock its 5th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after purchasing an additional 126,703 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after purchasing an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of 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 purchasing an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock valued at $469,869,000 after buying an additional 26,977 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock valued at $468,503,000 after buying an additional 31,190 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 1.5 %

CMI traded up $5.60 on Monday, reaching $385.20. 578,575 shares of the company's stock were exchanged, compared to its average volume of 1,421,036. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The company's 50 day moving average is $348.47 and its 200-day moving average is $310.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market cap of $52.84 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.84 and a beta of 0.99.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts' consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm posted $4.73 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.89%. Cummins's dividend payout ratio (DPR) is currently 48.08%.

Wall Street Analyst Weigh In

CMI has been the subject of a number of analyst reports. StockNews.com raised Cummins from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $355.00 to $420.00 in a research note on Monday. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, Citigroup upped their price objective on shares of Cummins from $415.00 to $435.00 and gave the company a "buy" rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $352.85.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,456,419.29. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

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.