CENTRAL TRUST Co Raises Stock Holdings in Cummins Inc. (NYSE:CMI)

CENTRAL TRUST Co boosted its stake in Cummins Inc. (NYSE:CMI) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,692 shares of the company’s stock after purchasing an additional 170 shares during the quarter. CENTRAL TRUST Co’s holdings in Cummins were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Cummins in the third quarter valued at $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter worth about $55,000. Finally, Friedenthal Financial purchased a new position in shares of Cummins in the 4th quarter worth about $55,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Shares of Cummins stock opened at $356.25 on Monday. The company has a market cap of $48.87 billion, a PE ratio of 23.53, a P/E/G ratio of 1.63 and a beta of 1.01. The business has a 50 day moving average of $362.75 and a 200 day moving average of $333.59. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 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 firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the company posted $4.73 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Cummins Inc. will post 20.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and an average price target of $374.25.

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 that occurred on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 6,490 shares of company stock valued at $2,357,880. 0.56% of the stock is currently owned by corporate insiders.

About Cummins

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.