Foundations Investment Advisors LLC Lowers Stock Position in Cummins Inc. (NYSE:CMI)

Foundations Investment Advisors LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,788 shares of the company’s stock after selling 116 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Cummins were worth $6,550,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC boosted 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 acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter valued at about $55,000. Finally, Friedenthal Financial purchased a new position in Cummins in the fourth quarter valued at about $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $348.27 on Tuesday. The firm has a market cap of $47.78 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.69 and a beta of 1.01. The firm’s fifty day moving average is $363.94 and its two-hundred day moving average is $331.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. The business’s revenue was up .3% on a year-over-year basis. Research analysts expect that Cummins Inc. will post 21.92 EPS for the current year.

Insider Buying and Selling at Cummins

In other 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 in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over 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.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup lowered their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird upped their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

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.