Strengthening Families & Communities LLC Reduces Stake in Cummins Inc. (NYSE:CMI)

Strengthening Families & Communities LLC lessened its position in shares of Cummins Inc. (NYSE:CMI) by 96.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313 shares of the company’s stock after selling 8,564 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Cummins were worth $109,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC grew its position 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 acquiring an additional 28 shares during the last quarter. KG&L Capital Management LLC boosted its stake in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after purchasing an additional 28 shares during the period. Chicago Capital LLC grew its holdings in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares during the last quarter. Massachusetts Wealth Management increased its stake in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares during the period. Finally, Equitable Trust Co. lifted its holdings in Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMI shares. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $383.08.

Cummins Stock Up 0.6 %

NYSE:CMI opened at $373.98 on Tuesday. The company’s 50-day simple moving average is $361.82 and its 200-day simple moving average is $336.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. Cummins Inc. has a fifty-two week low of $250.90 and a fifty-two week high of $387.90. The stock has a market capitalization of $51.30 billion, a P/E ratio of 13.28, a P/E/G ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its earnings results 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the firm earned $4.14 earnings per share. Cummins’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Insiders sold 4,327 shares of company stock valued at $1,582,821 in the last quarter. 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.