Cummins Inc. (NYSE:CMI) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,894 shares of the company’s stock after selling 167 shares during the period. Daymark Wealth Partners LLC’s holdings in Cummins were worth $2,403,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Missouri Trust & Investment Co raised its position in shares of Cummins by 3.8% during the 4th quarter. Missouri Trust & Investment Co now owns 1,090 shares of the company’s stock valued at $380,000 after buying an additional 40 shares during the period. Dakota Wealth Management lifted its holdings in Cummins by 9.1% in the fourth quarter. Dakota Wealth Management now owns 39,485 shares of the company’s stock valued at $13,764,000 after acquiring an additional 3,310 shares during the last quarter. Barlow Wealth Partners Inc. grew its position in Cummins by 2.5% in the fourth quarter. Barlow Wealth Partners Inc. now owns 47,428 shares of the company’s stock worth $17,112,000 after acquiring an additional 1,162 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Cummins by 90.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 122,616 shares of the company’s stock worth $42,744,000 after acquiring an additional 58,347 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last 90 days. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CMI. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Down 0.4 %

Cummins stock opened at $365.76 on Thursday. The firm has a market capitalization of $50.17 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.69 and a beta of 1.01. The stock’s fifty day simple moving average is $363.73 and its 200-day simple moving average is $329.56. Cummins Inc. has a twelve month low of $234.04 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

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.