26,350 Shares in Cummins Inc. $CMI Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in Cummins Inc. (NYSE:CMI) in the third quarter, HoldingsChannel reports. The fund bought 26,350 shares of the company’s stock, valued at approximately $11,129,000.

Other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Cummins during the third quarter valued at about $28,000. Salomon & Ludwin LLC increased its stake in shares of Cummins by 1,333.3% in the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the period. Guerra Advisors Inc bought a new position in Cummins in the 3rd quarter valued at approximately $36,000. Tripletail Wealth Management LLC bought a new position in Cummins in the 3rd quarter valued at approximately $39,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Cummins during the 2nd quarter worth approximately $31,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Earl Newsome sold 1,300 shares of Cummins stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president directly owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is owned by insiders.

Cummins Stock Down 3.0%

Shares of NYSE CMI opened at $539.59 on Monday. The company has a market capitalization of $74.55 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The company’s 50 day moving average price is $570.78 and its 200-day moving average price is $491.34.

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

Cummins Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMI. Argus set a $696.00 price target on shares of Cummins in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Raymond James Financial boosted their price objective on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. UBS Group set a $565.00 price objective on Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. lifted their target price on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $588.93.

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.