Pacific Capital Wealth Advisors Inc. Invests $39,000 in Cummins Inc. (NYSE:CMI)

Pacific Capital Wealth Advisors Inc. acquired a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 163 shares of the company’s stock, valued at approximately $39,000.

Several other large investors have also recently bought and sold shares of CMI. Stratos Wealth Partners LTD. boosted its position in shares of Cummins by 21.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,449 shares of the company’s stock valued at $331,000 after acquiring an additional 260 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Cummins by 4.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,060 shares of the company’s stock valued at $6,639,000 after buying an additional 1,284 shares in the last quarter. NBT Bank N A NY bought a new position in shares of Cummins during the third quarter valued at $263,000. River Street Advisors LLC grew its holdings in shares of Cummins by 2.1% in the 3rd quarter. River Street Advisors LLC now owns 5,267 shares of the company’s stock worth $1,203,000 after purchasing an additional 110 shares during the last quarter. Finally, Advisor Partners II LLC lifted its holdings in Cummins by 23.7% during the 3rd quarter. Advisor Partners II LLC now owns 7,385 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,414 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other Cummins news, Director Daniel William Fisher acquired 562 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Daniel William Fisher bought 562 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the purchase, the director now owns 1,068 shares in the company, valued at approximately $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. 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. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.2 %

Shares of NYSE:CMI traded up $3.53 during midday trading on Tuesday, reaching $287.12. 701,396 shares of the company were exchanged, compared to its average volume of 2,553,845. The firm has a market cap of $39.27 billion, a PE ratio of 21.02, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The stock has a fifty day simple moving average of $286.11 and a two-hundred day simple moving average of $253.84.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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). The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 earnings per share. As a group, sell-side analysts forecast that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is 49.19%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen boosted their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Robert W. Baird reduced their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, The Goldman Sachs Group lifted their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $282.55.

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.