Catalina Capital Group LLC Has $404,000 Holdings in Cummins Inc. (NYSE:CMI)

Catalina Capital Group LLC grew its stake in Cummins Inc. (NYSE:CMI) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,159 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Catalina Capital Group LLC’s holdings in Cummins were worth $404,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CMI. Global Trust Asset Management LLC grew 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 valued at $26,000 after acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $34,000. Friedenthal Financial acquired a new position in Cummins during the fourth quarter worth $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter worth $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Down 2.3 %

Shares of NYSE:CMI opened at $348.16 on Tuesday. The company has a market capitalization of $47.76 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.64 and a beta of 1.00. The business’s 50 day simple moving average is $362.75 and its 200 day simple moving average is $333.86. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the company earned $4.73 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 20.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMI. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Robert W. Baird lifted their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 6,490 shares of company stock worth $2,357,880 in the last 90 days. Insiders own 0.56% of the company’s stock.

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.