Strengthening Families & Communities LLC Decreases Stock Position in Cummins Inc. (NYSE:CMI)

Strengthening Families & Communities LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 96.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313 shares of the company’s stock after selling 8,564 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Cummins were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC boosted its stake in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter valued at $27,000. Prospera Private Wealth LLC bought a new stake in Cummins in the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins in the third quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Cummins during the third quarter valued at about $55,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 0.6 %

Cummins stock opened at $373.98 on Tuesday. Cummins Inc. has a 12 month low of $250.90 and a 12 month 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 business’s fifty day simple moving average is $361.82 and its two-hundred day simple moving average is $336.52. The company has a market capitalization of $51.30 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

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

Analysts Set New Price Targets

Several analysts recently issued reports on CMI shares. Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $383.08.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 4,327 shares of company stock worth $1,582,821. Insiders own 0.56% of the company’s stock.

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.