Greenleaf Trust Boosts Holdings in Cummins Inc. (NYSE:CMI)

Greenleaf Trust boosted its position in shares of Cummins Inc. (NYSE:CMI) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,110 shares of the company’s stock after acquiring an additional 42 shares during the period. Greenleaf Trust’s holdings in Cummins were worth $2,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMI. Centaurus Financial Inc. lifted its position in Cummins by 10.4% during the second quarter. Centaurus Financial Inc. now owns 837 shares of the company’s stock valued at $232,000 after acquiring an additional 79 shares during the last quarter. Czech National Bank increased its stake in Cummins by 7.1% during the 3rd quarter. Czech National Bank now owns 27,918 shares of the company’s stock valued at $9,040,000 after purchasing an additional 1,854 shares in the last quarter. GAMMA Investing LLC increased its stake in Cummins by 37.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock valued at $768,000 after purchasing an additional 644 shares in the last quarter. Azzad Asset Management Inc. ADV increased its stake in Cummins by 1.8% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 9,513 shares of the company’s stock valued at $3,080,000 after purchasing an additional 170 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Cummins by 36.4% during the 3rd quarter. Diversified Trust Co now owns 12,858 shares of the company’s stock valued at $4,163,000 after purchasing an additional 3,429 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI opened at $356.25 on Monday. The company’s fifty day moving average price is $362.75 and its 200 day moving average price is $333.59. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The company has a market capitalization of $48.87 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. 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 announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $4.73 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMI. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the 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 $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 6,490 shares of company stock valued at $2,357,880 over the last ninety days. Corporate 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.