Cummins Inc. (NYSE:CMI) Shares Acquired by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,062 shares of the company’s stock after purchasing an additional 103 shares during the period. St. Johns Investment Management Company LLC’s holdings in Cummins were worth $1,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Global Trust Asset Management LLC grew its position in Cummins by 59.6% in 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 during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Cummins during the 3rd quarter valued at $55,000. Finally, Friedenthal Financial purchased a new stake in Cummins during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of several analyst reports. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $374.25.

Cummins Stock Up 0.9 %

Shares of Cummins stock opened at $369.32 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $363.72 and its 200-day simple moving average is $329.82. The stock has a market capitalization of $50.66 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a twelve month low of $234.49 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.73 earnings per share. Equities research analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,489 shares of company stock valued at $2,357,531 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

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.