Brighton Jones LLC Boosts Stock Position in Cummins Inc. (NYSE:CMI)

Brighton Jones LLC boosted its position in Cummins Inc. (NYSE:CMI) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,112 shares of the company’s stock after purchasing an additional 83 shares during the quarter. Brighton Jones LLC’s holdings in Cummins were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth $55,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins during the fourth quarter worth $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Down 0.4 %

Shares of 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 has a market cap of $50.41 billion, a PE ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. The stock’s 50-day moving average is $363.94 and its two-hundred day moving average is $330.77.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the company posted $4.73 EPS. Cummins’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup lowered their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $374.25.

About Cummins

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.