Trust Co. of Toledo NA OH Boosts Holdings in Cummins Inc. (NYSE:CMI)

Trust Co. of Toledo NA OH grew its position in Cummins Inc. (NYSE:CMI) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,218 shares of the company’s stock after purchasing an additional 152 shares during the period. Trust Co. of Toledo NA OH’s holdings in Cummins were worth $425,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $55,000. Bangor Savings Bank lifted its holdings in shares of Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cummins in the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Trading Up 1.7 %

NYSE CMI opened at $360.80 on Tuesday. 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 firm’s fifty day moving average price is $362.62 and its 200 day moving average price is $325.60. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the firm posted $4.73 EPS. The company’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Truist Financial upped their price objective on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Citigroup increased their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given 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 presently has an average rating of “Hold” and an average price target of $363.50.

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.