Cummins Inc. (NYSE:CMI) Stake Increased by Brighton Jones LLC

Brighton Jones LLC boosted its stake in Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,112 shares of the company’s stock after buying an additional 83 shares during the period. Brighton Jones LLC’s holdings in Cummins were worth $736,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC raised its stake 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 purchasing an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins in the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Cummins during the third quarter valued at approximately $34,000. Friedenthal Financial bought a new position in Cummins during the 4th quarter worth approximately $55,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $55,000. 83.46% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CMI. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins Stock Down 0.4 %

CMI opened at $367.45 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The stock’s 50 day moving average price is $363.94 and its 200 day moving average price is $330.77. The stock has a market cap of $50.41 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.73 earnings per share. As a group, research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

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.