Kingswood Wealth Advisors LLC Sells 1,956 Shares of Cummins Inc. (NYSE:CMI)

Kingswood Wealth Advisors LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 41.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,740 shares of the company’s stock after selling 1,956 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Cummins were worth $955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC increased its position in 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 in the last quarter. Chicago Capital LLC increased its holdings in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. increased its holdings in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after purchasing an additional 35 shares in the last quarter. Finally, Bangor Savings Bank increased its holdings in shares of Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

NYSE CMI opened at $350.59 on Wednesday. The company has a market capitalization of $48.09 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The business’s fifty day moving average is $363.62 and its 200 day moving average is $332.09. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last released its earnings results 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 company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.73 earnings per share. Sell-side analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CMI shares. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird lifted their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Citigroup dropped their price target 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 investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated 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 directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last ninety days. 0.56% of the stock is currently owned by company insiders.

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.