Jacobs & Co. CA Raises Stock Holdings in Cummins Inc. (NYSE:CMI)

Jacobs & Co. CA raised its position in shares of Cummins Inc. (NYSE:CMI) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,242 shares of the company’s stock after purchasing an additional 1,289 shares during the period. Jacobs & Co. CA’s holdings in Cummins were worth $9,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. KB Financial Partners LLC boosted its holdings in shares of Cummins by 1.3% in the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after acquiring an additional 45 shares during the period. Columbia Trust Co 01012016 boosted its stake in Cummins by 1.2% during the third quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after buying an additional 48 shares during the period. Spears Abacus Advisors LLC boosted its stake in Cummins by 5.1% during the first quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after buying an additional 48 shares during the period. Peloton Wealth Strategists boosted its stake in Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after buying an additional 50 shares during the period. Finally, D.B. Root & Company LLC boosted its stake in Cummins by 0.9% during the fourth quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock valued at $1,277,000 after buying an additional 50 shares during the period. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMI has been the topic of a number of research reports. Truist Financial initiated coverage on Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. TD Cowen raised their price target on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Morgan Stanley initiated coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. Finally, Citigroup lifted their price objective on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $271.64.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $266.91, for a total transaction of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 1.12% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $294.69 on Thursday. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $297.11. The firm has a market cap of $41.80 billion, a P/E ratio of 56.89, a PEG ratio of 1.98 and a beta of 1.03. The company has a 50 day moving average of $260.31 and a 200 day moving average of $240.49. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.52 earnings per share. As a group, research analysts expect that Cummins Inc. will post 18.36 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 129.73%.

Cummins 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.