Cummins Inc. (NYSE:CMI) Shares Bought by Columbus Macro LLC

Columbus Macro LLC raised its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 489.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,412 shares of the company's stock after acquiring an additional 13,628 shares during the period. Columbus Macro LLC's holdings in Cummins were worth $5,721,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Cummins in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins in the third quarter valued at approximately $34,000. Friedenthal Financial purchased a new stake in Cummins in the fourth quarter valued at $55,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at about $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company's stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 6,490 shares of company stock worth $2,357,880. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Vertical Research downgraded shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Evercore ISI raised 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 report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $383.08.

Cummins Price Performance

Cummins stock traded up $5.66 during midday trading on Wednesday, reaching $369.17. The company's stock had a trading volume of 346,174 shares, compared to its average volume of 820,317. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock's 50 day simple moving average is $361.94 and its 200 day simple moving average is $334.73. The firm has a market capitalization of $50.64 billion, a PE ratio of 24.39, a P/E/G ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. During the same period in the previous year, the firm posted $4.14 earnings per share. Cummins's revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that Cummins Inc. will post 20.62 earnings per share for the current year.

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.