Fermata Advisors LLC Invests $466,000 in Cummins Inc. (NYSE:CMI)

Fermata Advisors LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,337 shares of the company's stock, valued at approximately $466,000.

Several other hedge funds have also recently made changes to their positions in CMI. Pathway Financial Advisers LLC grew its holdings in Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the period. International Assets Investment Management LLC grew its stake in shares of Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock valued at $315,616,000 after buying an additional 972,247 shares during the period. Fisher Asset Management LLC increased its position in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after buying an additional 165,398 shares in the last quarter. AXA S.A. raised its stake in Cummins by 247.5% during the 2nd quarter. AXA S.A. now owns 229,051 shares of the company's stock worth $63,431,000 after buying an additional 163,129 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Cummins by 31.0% in the second quarter. AQR Capital Management LLC now owns 616,876 shares of the company's stock worth $170,831,000 after acquiring an additional 145,921 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by company insiders.

Cummins Stock Performance

Shares of NYSE CMI traded down $0.35 during midday trading on Friday, reaching $365.98. The company's stock had a trading volume of 810,985 shares, compared to its average volume of 614,062. The stock has a market capitalization of $50.21 billion, a P/E ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a 50 day moving average price of $363.14 and a 200-day moving average price of $326.73. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMI shares. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. StockNews.com lowered shares of Cummins from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised shares of Cummins from an "in-line" rating to an "outperform" rating and raised their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight equities 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.com, the company presently has an average rating of "Hold" and a consensus price target of $374.25.

About Cummins

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.