Massachusetts Wealth Management Has $1.68 Million Stake in Cummins Inc. (NYSE:CMI)

Massachusetts Wealth Management grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,812 shares of the company’s stock after acquiring an additional 30 shares during the quarter. Massachusetts Wealth Management’s holdings in Cummins were worth $1,677,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank lifted its stake in Cummins by 7.1% in the third quarter. Czech National Bank now owns 27,918 shares of the company’s stock valued at $9,040,000 after buying an additional 1,854 shares during the period. GAMMA Investing LLC lifted its position in shares of Cummins by 37.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock valued at $768,000 after acquiring an additional 644 shares during the period. SignalPoint Asset Management LLC bought a new position in Cummins during the third quarter worth $201,000. Atomi Financial Group Inc. grew its holdings in Cummins by 9.1% in the third quarter. Atomi Financial Group Inc. now owns 1,338 shares of the company’s stock worth $433,000 after purchasing an additional 112 shares during the period. Finally, City Holding Co. increased its stake in Cummins by 0.7% in the third quarter. City Holding Co. now owns 16,880 shares of the company’s stock valued at $5,465,000 after purchasing an additional 125 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 6,490 shares of company stock worth $2,357,880. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $363.97 on Wednesday. The company has a market capitalization of $49.93 billion, a PE ratio of 24.04, a PEG ratio of 1.64 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $361.94 and its 200-day moving average price is $334.73. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on CMI shares. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird increased 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. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Company 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.