Kingsview Wealth Management LLC Has $1.53 Million Holdings in Cummins Inc. (NYSE:CMI)

Kingsview Wealth Management LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 68.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,381 shares of the company’s stock after selling 9,721 shares during the period. Kingsview Wealth Management LLC’s holdings in Cummins were worth $1,527,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter valued at $34,000. Friedenthal Financial bought a new position in Cummins in the 4th quarter worth $55,000. Finally, Ashton Thomas Securities LLC acquired a new position in Cummins during the 3rd quarter worth $55,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CMI. Robert W. Baird raised their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Finally, Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $383.08.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,327 shares of company stock worth $1,582,821 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

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.