Edmp Inc. Cuts Position in Cummins Inc. (NYSE:CMI)

Edmp Inc. reduced its position in shares of Cummins Inc. (NYSE:CMI) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 5,714 shares of the company’s stock after selling 92 shares during the quarter. Cummins makes up about 1.9% of Edmp Inc.’s portfolio, making the stock its 18th biggest position. Edmp Inc.’s holdings in Cummins were worth $1,992,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in Cummins in the fourth quarter worth about $4,453,000. Essex Financial Services Inc. increased its position in shares of Cummins by 4.7% during the 4th quarter. Essex Financial Services Inc. now owns 6,475 shares of the company’s stock valued at $2,257,000 after purchasing an additional 289 shares during the last quarter. Sapient Capital LLC raised its holdings in Cummins by 0.3% during the 4th quarter. Sapient Capital LLC now owns 13,127 shares of the company’s stock valued at $4,576,000 after buying an additional 34 shares during the period. Global Wealth Management Investment Advisory Inc. purchased a new position in Cummins during the fourth quarter worth $202,000. Finally, Soltis Investment Advisors LLC increased its position in Cummins by 7.4% during the fourth quarter. Soltis Investment Advisors LLC now owns 666 shares of the company’s stock valued at $232,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business’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 in the company, valued at $7,540,879.47. The trade was a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 4,327 shares of company stock valued at $1,582,821. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CMI. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Truist Financial boosted their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. 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, the company presently has an average rating of “Hold” and a consensus price target of $383.08.

Cummins Price Performance

Shares of CMI stock opened at $373.98 on Tuesday. The company has a market cap of $51.30 billion, a P/E ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The stock’s 50-day moving average is $361.82 and its 200 day moving average is $336.52. Cummins Inc. has a 1-year low of $250.90 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the business earned $4.14 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

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.