Cummins Inc. (NYSE:CMI) Shares Sold by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV cut its stake in Cummins Inc. (NYSE:CMI) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,230 shares of the company’s stock after selling 31 shares during the period. Investment Advisory Services Inc. TX ADV’s holdings in Cummins were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CMI. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% during the 4th 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 period. Prospera Private Wealth LLC purchased a new stake in Cummins during the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Cummins during the third quarter worth about $34,000. Friedenthal Financial purchased a new position in shares of Cummins in the 4th quarter worth about $55,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the 3rd quarter valued at about $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 6,328 shares of company stock valued at $2,300,040. 0.56% of the stock is currently owned by insiders.

Cummins Price Performance

Shares of CMI opened at $372.12 on Friday. Cummins Inc. has a 52 week low of $247.53 and a 52 week high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a market cap of $51.05 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.10 and a beta of 1.00. The stock has a 50 day moving average of $361.82 and a 200-day moving average of $335.77.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 earnings per share. As a group, analysts forecast that Cummins Inc. will post 22.57 EPS for the current year.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Finally, Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $383.08.

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.