Coldstream Capital Management Inc. Acquires 391 Shares of Cummins Inc. (NYSE:CMI)

Coldstream Capital Management Inc. boosted its holdings in Cummins Inc. (NYSE:CMI) by 18.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,551 shares of the company’s stock after acquiring an additional 391 shares during the period. Coldstream Capital Management Inc.’s holdings in Cummins were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new stake in Cummins in the 2nd quarter valued at $28,000. Prospera Private Wealth LLC bought a new position in Cummins during the 3rd quarter worth $32,000. CarsonAllaria Wealth Management Ltd. bought a new position in Cummins during the 2nd quarter worth $28,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins during the 3rd quarter worth $34,000. Finally, Gradient Investments LLC increased its position in Cummins by 290.0% during the 2nd quarter. Gradient Investments LLC now owns 156 shares of the company’s stock worth $43,000 after buying an additional 116 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last ninety days. 0.56% of the stock is owned by company insiders.

Cummins Price Performance

Cummins stock opened at $370.66 on Friday. The stock’s 50 day moving average is $351.60 and its 200 day moving average is $312.44. 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 firm has a market cap of $50.85 billion, a P/E ratio of 24.48, a P/E/G ratio of 1.84 and a beta of 0.99. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping 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 firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.73 earnings per share. As a group, research analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMI. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $420.00 in a research report on Monday. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup raised their price objective on Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $352.85.

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.