Baker Boyer National Bank Has $338,000 Position in Cummins Inc. (NYSE:CMI)

Baker Boyer National Bank cut its stake in shares of Cummins Inc. (NYSE:CMI) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 971 shares of the company’s stock after selling 44 shares during the quarter. Baker Boyer National Bank’s holdings in Cummins were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised its position 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 acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial bought a new stake in Cummins in the 4th quarter valued at about $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird boosted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Trading Up 0.5 %

Cummins stock opened at $350.59 on Wednesday. The stock has a market cap of $48.09 billion, a P/E ratio of 23.16, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. The firm’s fifty day moving average price is $363.62 and its 200-day moving average price is $332.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last released its quarterly 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. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.73 earnings per share. Equities research analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last 90 days. 0.56% of the stock is owned by 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.