Tealwood Asset Management Inc. Has $3.05 Million Holdings in Cummins Inc. (NYSE:CMI)

Tealwood Asset Management Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,747 shares of the company’s stock after selling 45 shares during the quarter. Cummins comprises approximately 1.3% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position. Tealwood Asset Management Inc.’s holdings in Cummins were worth $3,049,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins during the third quarter worth about $34,000. Friedenthal Financial bought a new stake in Cummins in the 4th quarter valued at about $55,000. Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at about $55,000. Finally, Bangor Savings Bank increased its holdings in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the subject of several recent research reports. Citigroup boosted their price target on Cummins from $415.00 to $435.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group raised 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. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, 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 report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $363.50.

Cummins Price Performance

CMI stock opened at $360.80 on Tuesday. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 0.99. 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 company has a 50 day simple moving average of $362.62 and a 200 day simple moving average of $325.60. Cummins Inc. has a 1 year low of $226.52 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $4.73 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents 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 accessible through the SEC website. Over the last three months, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

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.