Cummins Inc. (NYSE:CMI) Shares Sold by Burney Co.

Burney Co. reduced its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,570 shares of the company's stock after selling 1,410 shares during the period. Burney Co.'s holdings in Cummins were worth $2,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the third quarter valued at $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the 3rd quarter worth about $34,000. Friedenthal Financial acquired a new stake in Cummins in the 4th quarter valued at about $55,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins in the 3rd quarter valued at about $55,000. Finally, Bangor Savings Bank grew its position in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company's stock worth $62,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group boosted their target price 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. Vertical Research cut 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. Finally, StockNews.com cut Cummins from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of "Hold" and a consensus target price of $374.25.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on 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. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Company insiders own 0.56% of the company's stock.

Cummins Stock Performance

Shares of Cummins stock traded up $5.75 on Thursday, hitting $366.55. The stock had a trading volume of 577,493 shares, compared to its average volume of 594,379. The stock has a market cap of $50.28 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.61 and a beta of 1.01. 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 52-week low of $226.52 and a 52-week high of $387.90. The company's 50 day moving average price is $362.91 and its 200 day moving average price is $326.45.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts' consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.73 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current 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.