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

Jacobs & Co. CA trimmed its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,184 shares of the company's stock after selling 1,505 shares during the quarter. Cummins comprises approximately 1.2% of Jacobs & Co. CA's investment portfolio, making the stock its 28th biggest position. Jacobs & Co. CA's holdings in Cummins were worth $12,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Chicago Capital LLC grew its stake in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock worth $1,065,000 after acquiring an additional 30 shares in the last quarter. Equitable Trust Co. lifted its position in shares of Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company's stock worth $298,000 after buying an additional 32 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock worth $520,000 after buying an additional 35 shares during the last quarter. Bangor Savings Bank grew its holdings in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company's stock valued at $62,000 after acquiring an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in Cummins by 3.4% during the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock worth $340,000 after acquiring an additional 38 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI traded down $4.44 during midday trading on Friday, hitting $355.31. 688,523 shares of the company traded hands, compared to its average volume of 572,387. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90. The firm has a market cap of $48.74 billion, a P/E ratio of 23.47, a PEG ratio of 1.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The stock has a 50-day moving average of $361.92 and a 200-day moving average of $324.44.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.73 EPS. As a group, sell-side analysts predict that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. Cummins's dividend payout ratio is currently 48.08%.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CMI. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Truist Financial upped their price objective on Cummins from $369.00 to $424.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $363.50.

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.