Brighton Jones LLC Has $524,000 Position in Cummins Inc. (NYSE:CMI)

Brighton Jones LLC raised its stake in shares of Cummins Inc. (NYSE:CMI) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,188 shares of the company’s stock after purchasing an additional 68 shares during the period. Brighton Jones LLC’s holdings in Cummins were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in Cummins by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 73,439 shares of the company’s stock valued at $16,778,000 after acquiring an additional 2,377 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Cummins by 4.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,204 shares of the company’s stock valued at $7,586,000 after buying an additional 1,501 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in Cummins by 30.8% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 263 shares of the company’s stock valued at $60,000 after buying an additional 62 shares during the last quarter. Raymond James & Associates increased its position in Cummins by 4.3% in the 3rd quarter. Raymond James & Associates now owns 257,730 shares of the company’s stock worth $58,881,000 after buying an additional 10,529 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Cummins by 7.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,868 shares of the company’s stock valued at $36,295,000 after acquiring an additional 10,848 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 1.3 %

Shares of NYSE:CMI opened at $280.29 on Friday. The company’s fifty day moving average is $285.06 and its 200-day moving average is $252.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $304.24. The company has a market capitalization of $38.33 billion, a PE ratio of 54.11, a P/E/G ratio of 1.92 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.52 earnings per share. Equities research analysts predict that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.40%. Cummins’s payout ratio is 129.73%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMI. Citigroup boosted their target price on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. The Goldman Sachs Group increased their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Evercore ISI upped their price target on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Morgan Stanley assumed coverage on Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Finally, Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $279.70.

Insider Buying and Selling at Cummins

In other news, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction that occurred on Friday, February 16th. The shares were 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 owns 2,698 shares in the company, valued at approximately $720,123.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was 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 approximately $4,584,529.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

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.