Empirical Finance LLC Sells 54 Shares of Cummins Inc. (NYSE:CMI)

Empirical Finance LLC reduced its holdings in Cummins Inc. (NYSE:CMI) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,784 shares of the company’s stock after selling 54 shares during the quarter. Empirical Finance LLC’s holdings in Cummins were worth $1,668,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. FMR LLC boosted its stake in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after buying an additional 972,247 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 4,327 shares of company stock worth $1,582,821 over the last quarter. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMI. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus target price of $383.08.

Cummins Stock Up 0.8 %

Shares of Cummins stock opened at $372.12 on Monday. The company has a 50-day simple moving average of $361.82 and a two-hundred day simple moving average of $336.13. The stock has a market capitalization of $51.05 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 52-week low of $247.53 and a 52-week high of $387.90. 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 (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.06 billion. During the same period in the previous year, the business earned $4.14 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.57 EPS for the current fiscal year.

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.