Butensky & Cohen Financial Security Inc. Lowers Holdings in Cummins Inc. (NYSE:CMI)

Butensky & Cohen Financial Security Inc. cut its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,220 shares of the company's stock after selling 1,149 shares during the quarter. Cummins makes up approximately 1.7% of Butensky & Cohen Financial Security Inc.'s holdings, making the stock its 14th largest holding. Butensky & Cohen Financial Security Inc.'s holdings in Cummins were worth $5,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. PFG Investments LLC grew its position in shares of 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 buying an additional 485 shares during the last quarter. CWM LLC boosted its holdings in Cummins by 17.4% in 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 in the last quarter. Distillate Capital Partners LLC increased its position in Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company's stock valued at $16,361,000 after purchasing an additional 59,027 shares during the period. Alpha DNA Investment Management LLC bought a new position in Cummins in the 3rd quarter worth $748,000. Finally, Franklin Resources Inc. raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Stock Down 0.1 %

CMI stock traded down $0.35 during midday trading on Friday, hitting $365.98. The company's stock had a trading volume of 810,985 shares, compared to its average volume of 505,817. The firm's 50-day moving average is $363.33 and its 200-day moving average is $327.38. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The company has a market cap of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 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 during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the business posted $4.73 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,489 shares of company stock valued at $2,357,531 over the last 90 days. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $374.25.

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.