Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 149 Shares of Cummins Inc. (NYSE:CMI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Cummins Inc. (NYSE:CMI) by 9.5% during the 4th quarter, Holdings Channel reports. The fund owned 1,722 shares of the company’s stock after acquiring an additional 149 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cummins were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Ascent Group LLC increased its holdings in shares of Cummins by 6.8% during the second quarter. Ascent Group LLC now owns 1,280 shares of the company’s stock worth $354,000 after purchasing an additional 82 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Cummins by 442.9% during the second quarter. NewEdge Advisors LLC now owns 22,080 shares of the company’s stock worth $6,115,000 after purchasing an additional 18,013 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Cummins by 33.4% during the second quarter. Sunbelt Securities Inc. now owns 4,808 shares of the company’s stock worth $1,331,000 after purchasing an additional 1,205 shares during the period. Quarry LP bought a new position in shares of Cummins during the second quarter worth approximately $88,000. Finally, Kimelman & Baird LLC bought a new position in shares of Cummins during the second quarter worth approximately $83,000. 83.46% of the stock is owned by institutional investors.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMI. 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 report on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird lifted their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Performance

Shares of Cummins stock opened at $350.59 on Wednesday. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. 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 capitalization of $48.09 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.69 and a beta of 1.01. The company’s 50 day moving average price is $363.62 and its two-hundred day moving average price is $332.09.

Cummins (NYSE:CMI) last issued its quarterly earnings results 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 net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.73 earnings per share. On average, equities analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal 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.