Jacobi Capital Management LLC Sells 386 Shares of Cummins Inc. (NYSE:CMI)

Jacobi Capital Management LLC lessened its position in Cummins Inc. (NYSE:CMI) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,491 shares of the company’s stock after selling 386 shares during the period. Jacobi Capital Management LLC’s holdings in Cummins were worth $3,657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Pallas Capital Advisors LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at $292,000. Catalyst Financial Partners LLC acquired a new position in Cummins during the 3rd quarter worth about $217,000. US Bancorp DE lifted its position in Cummins by 2.0% during the 3rd quarter. US Bancorp DE now owns 75,919 shares of the company’s stock worth $24,582,000 after buying an additional 1,496 shares in the last quarter. Stephens Inc. AR lifted its position in Cummins by 12.9% during the 3rd quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock worth $405,000 after buying an additional 143 shares in the last quarter. Finally, Shepherd Financial Partners LLC lifted its position in Cummins by 2.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 1,819 shares of the company’s stock worth $589,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. 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. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Price Performance

NYSE CMI opened at $367.90 on Friday. The business has a 50 day simple moving average of $362.32 and a 200 day simple moving average of $344.17. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market cap of $50.58 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its earnings results 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

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.