Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 149 Shares of Cummins Inc. (NYSE:CMI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,722 shares of the company’s stock after acquiring an additional 149 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cummins were worth $600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC increased its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Cummins in the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins in the 3rd quarter valued at $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins in the 4th quarter valued at $55,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CMI shares. 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 report on Wednesday, November 6th. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Trading Up 0.5 %

Shares of NYSE:CMI opened at $350.59 on Wednesday. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90. The company has a market capitalization of $48.09 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a 50-day simple moving average of $363.62 and a 200 day simple moving average of $332.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the business posted $4.73 EPS. Cummins’s revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,456,419.29. This represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

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.