Trust Co. of Toledo NA OH Increases Position in Cummins Inc. (NYSE:CMI)

Trust Co. of Toledo NA OH increased its stake in shares of Cummins Inc. (NYSE:CMI) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,218 shares of the company’s stock after buying an additional 152 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Cummins were worth $425,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CMI. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the period. International Assets Investment Management LLC lifted its position in Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares during the period. Renaissance Technologies LLC acquired a new position in Cummins during the second quarter valued at $46,607,000. Fisher Asset Management LLC lifted its position in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. Finally, AXA S.A. lifted its position in Cummins by 247.5% during the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock valued at $63,431,000 after purchasing an additional 163,129 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.7 %

CMI stock opened at $360.80 on Tuesday. The stock has a market capitalization of $49.49 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 0.99. The firm has a 50-day simple moving average of $362.62 and a 200-day simple moving average of $325.60. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company earned $4.73 EPS. Cummins’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price objective 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. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Citigroup upped their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $363.50.

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.