Eldred Rock Partners LLC Buys 174 Shares of Cummins Inc. (NYSE:CMI)

Eldred Rock Partners LLC increased its stake in Cummins Inc. (NYSE:CMI) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,055 shares of the company’s stock after buying an additional 174 shares during the quarter. Cummins makes up 3.9% of Eldred Rock Partners LLC’s holdings, making the stock its 8th biggest position. Eldred Rock Partners LLC’s holdings in Cummins were worth $11,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. grew its position in shares of Cummins by 0.9% in the 4th quarter. City Holding Co. now owns 17,039 shares of the company’s stock valued at $5,940,000 after acquiring an additional 159 shares during the period. Kaydan Wealth Management Inc. bought a new position in Cummins during the fourth quarter worth about $207,000. Brady Martz Wealth Solutions LLC acquired a new position in Cummins during the fourth quarter worth approximately $372,000. Renaissance Investment Group LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $200,000. Finally, Artemis Investment Management LLP bought a new position in shares of Cummins during the 4th quarter worth approximately $2,268,000. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMI. Vertical Research lowered shares of 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. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cummins has an average rating of “Hold” and an average price target of $374.25.

Cummins Stock Down 0.1 %

NYSE CMI opened at $365.98 on Monday. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The business has a fifty day moving average price of $363.33 and a two-hundred day moving average price of $327.80. 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 stock has a market capitalization of $50.21 billion, a PE ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The business 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%. Cummins’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $4.73 earnings per share. Equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

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.