Gateway Investment Advisers LLC decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,803 shares of the company's stock after selling 2,298 shares during the period. Gateway Investment Advisers LLC owned about 0.06% of Cummins worth $27,122,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CMI. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the 3rd quarter valued at about $34,000. Friedenthal Financial purchased a new position in Cummins during the 4th quarter valued at about $55,000. Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter worth about $55,000. Finally, Bangor Savings Bank grew its holdings in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company's stock worth $62,000 after purchasing an additional 35 shares during the period. Institutional investors own 83.46% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday. Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. StockNews.com downgraded Cummins from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Finally, Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $354.00 to $358.00 in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $374.25.
Read Our Latest Stock Report on CMI
Insider Transactions at Cummins
In related news, VP Sharon R. Barner sold 2,163 shares of the firm's stock in a transaction that occurred on 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 owns 20,803 shares of the company's stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last ninety days. Insiders own 0.56% of the company's stock.
Cummins Stock Performance
Shares of NYSE CMI traded down $0.35 during trading on Friday, reaching $365.98. 810,985 shares of the company traded hands, compared to its average volume of 614,062. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $363.14 and a 200-day simple moving average of $326.73. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The stock has a market capitalization 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 issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion for 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 firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $4.73 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.
Cummins Profile
(
Free Report)
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.
Further Reading
Before you consider Cummins, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list.
While Cummins currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
