Jacobs & Co. CA Sells 1,505 Shares of Cummins Inc. (NYSE:CMI)

Jacobs & Co. CA decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,184 shares of the company’s stock after selling 1,505 shares during the period. Cummins accounts for approximately 1.2% of Jacobs & Co. CA’s holdings, making the stock its 28th biggest holding. Jacobs & Co. CA’s holdings in Cummins were worth $12,265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bangor Savings Bank raised its position in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in shares of Cummins by 9.4% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 6,422 shares of the company’s stock worth $2,239,000 after acquiring an additional 551 shares in the last quarter. Pensionfund Sabic lifted its stake in Cummins by 27.0% in the fourth quarter. Pensionfund Sabic now owns 4,700 shares of the company’s stock valued at $1,638,000 after buying an additional 1,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in Cummins by 31.1% during the 4th quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $1,084,000 after purchasing an additional 737 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Cummins by 53.1% in the 4th quarter. Versant Capital Management Inc now owns 476 shares of the company’s stock valued at $166,000 after purchasing an additional 165 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI traded down $3.58 during midday trading on Friday, hitting $356.17. The stock had a trading volume of 274,226 shares, compared to its average volume of 501,535. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $48.86 billion, a P/E ratio of 23.53, a price-to-earnings-growth 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. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90.

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

Cummins Announces Dividend

The business also recently declared 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 2.04%. Cummins’s payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMI shares. JPMorgan Chase & Co. upgraded 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, December 9th. Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cummins currently has a consensus rating of “Hold” and an average target price of $363.50.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on 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 $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by 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.