Foster & Motley Inc. Sells 1,174 Shares of Cummins Inc. (NYSE:CMI)

Foster & Motley Inc. decreased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,281 shares of the company's stock after selling 1,174 shares during the quarter. Foster & Motley Inc.'s holdings in Cummins were worth $9,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC increased 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 worth $26,000 after acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins in the third quarter valued at approximately $34,000. Friedenthal Financial bought a new stake in shares of Cummins during the fourth quarter worth $55,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the third quarter worth $55,000. Institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $374.25.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, 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 is accessible through the SEC website. In the last three months, insiders have sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company's stock.

Cummins Price Performance

Shares of NYSE CMI traded up $7.91 during mid-day trading on Thursday, reaching $361.93. The company had a trading volume of 345,992 shares, compared to its average volume of 735,954. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. The business's 50-day simple moving average is $363.27 and its 200 day simple moving average is $332.70. 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 firm has a market cap of $49.65 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate 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 net margin of 6.13% and a return on equity of 26.86%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.73 EPS. On average, research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal 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.