Jamison Private Wealth Management Inc. Boosts Stock Position in Cummins Inc. (NYSE:CMI)

Jamison Private Wealth Management Inc. boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 56.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 329 shares of the company’s stock after buying an additional 119 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Cummins were worth $79,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Synovus Financial Corp grew its position in Cummins by 254.4% in the first quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,378 shares during the period. Cibc World Market Inc. boosted its stake in Cummins by 65.4% during the first quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock worth $3,732,000 after buying an additional 7,191 shares during the period. Sei Investments Co. increased its position in shares of Cummins by 16.1% during the first quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after acquiring an additional 13,058 shares during the last quarter. Prudential PLC purchased a new stake in shares of Cummins in the 1st quarter valued at approximately $711,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Cummins by 43.0% in the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,925 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. Company insiders own 1.05% of the company’s stock.

Cummins Stock Performance

NYSE:CMI traded up $3.70 during trading hours on Tuesday, reaching $291.46. 659,880 shares of the company’s stock were exchanged, compared to its average volume of 3,330,498. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $297.11. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 55.58, a P/E/G ratio of 1.97 and a beta of 1.03. The company has a 50-day moving average of $258.16 and a 200 day moving average of $239.70.

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

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. Cummins’s dividend payout ratio (DPR) is 129.73%.

Analyst Ratings Changes

CMI has been the topic of a number of research analyst reports. TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Morgan Stanley initiated coverage on Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price for the company. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday. 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $271.64.

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.