Cummins Inc. (NYSE:CMI) Shares Sold by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV decreased its holdings in Cummins Inc. (NYSE:CMI) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,230 shares of the company’s stock after selling 31 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Cummins were worth $777,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. PFG Investments LLC increased its stake in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares in the last quarter. Mariner Investment Group LLC purchased a new position in shares of Cummins in the fourth quarter worth approximately $1,046,000. CWM LLC raised its holdings in shares of Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the period. Alpha DNA Investment Management LLC purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $748,000. Finally, Franklin Resources Inc. boosted its stake in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CMI. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $383.08.

Cummins Stock Up 0.8 %

CMI stock opened at $372.12 on Friday. The business’s 50-day simple moving average is $361.82 and its 200 day simple moving average is $335.77. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market cap 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 twelve month low of $247.53 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $4.14 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current year.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s 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 sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 6,328 shares of company stock valued at $2,300,040 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

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.