Jacobs & Co. CA Has $9.16 Million Stock Position in Cummins Inc. (NYSE:CMI)

Jacobs & Co. CA boosted its holdings in Cummins Inc. (NYSE:CMI) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,242 shares of the company’s stock after purchasing an additional 1,289 shares during the quarter. Jacobs & Co. CA’s holdings in Cummins were worth $9,161,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Cummins in the third quarter worth approximately $25,000. Silver Oak Securities Incorporated bought a new stake in Cummins in the third quarter worth approximately $28,000. Tyler Stone Wealth Management bought a new stake in Cummins in the second quarter worth approximately $30,000. Global Wealth Strategies & Associates bought a new stake in Cummins in the third quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in shares of Cummins during the first quarter valued at approximately $32,000. 83.46% of the stock is currently owned by institutional investors.

Insider Activity

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

Cummins Stock Up 1.0 %

Shares of NYSE CMI opened at $294.69 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. Cummins Inc. has a one year low of $203.18 and a one year high of $297.11. The stock has a market capitalization of $41.80 billion, a PE ratio of 56.89, a P/E/G ratio of 1.98 and a beta of 1.03. The business’s fifty day moving average price is $260.31 and its 200-day moving average price is $240.49.

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 business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.52 earnings per share. On average, equities research analysts anticipate that Cummins Inc. will post 18.36 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CMI shares. TD Cowen boosted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Truist Financial started coverage on Cummins in a report on Thursday, March 14th. They set a “hold” rating and a $303.00 price objective for the company. Citigroup boosted their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, February 12th. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. upped their price target on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $271.64.

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.