Cummins Inc. (NYSE:CMI) Stock Holdings Lowered by Jacobs & Co. CA

Jacobs & Co. CA lowered its stake in Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,184 shares of the company’s stock after selling 1,505 shares during the period. Cummins makes up about 1.2% of Jacobs & Co. CA’s investment portfolio, making the stock its 28th largest holding. Jacobs & Co. CA’s holdings in Cummins were worth $12,265,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CMI. Chicago Capital LLC increased its stake in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. boosted its stake in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares during the period. EP Wealth Advisors LLC raised its stake in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after purchasing an additional 35 shares during the period. Bangor Savings Bank lifted its holdings in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Cummins by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CMI shares. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup boosted 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, December 9th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $363.50.

Cummins Stock Performance

Shares of NYSE CMI traded down $3.58 during trading hours on Friday, hitting $356.17. 274,226 shares of the company’s stock were exchanged, compared to its average volume of 501,535. The stock has a market capitalization of $48.86 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.80 and a beta of 1.01. The company’s 50-day moving average price is $361.38 and its 200-day moving average price is $323.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.73 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins’s payout ratio is presently 48.08%.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % 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 90 days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by corporate 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.