Cummins Inc. (NYSE:CMI) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its holdings in Cummins Inc. (NYSE:CMI) by 39.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,133 shares of the company’s stock after acquiring an additional 603 shares during the period. Blue Trust Inc.’s holdings in Cummins were worth $691,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CMI shares. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research lowered shares of 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. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins Price Performance

CMI stock opened at $354.31 on Thursday. The business’s 50-day moving average is $363.40 and its two-hundred day moving average is $332.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $48.60 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last issued 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm 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 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company’s stock.

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.