SG Americas Securities LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 95.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,163 shares of the company's stock after selling 44,146 shares during the period. SG Americas Securities LLC's holdings in Cummins were worth $754,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% during the 4th 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 acquired a new stake in shares of Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter valued at $55,000. Finally, Friedenthal Financial acquired a new stake in Cummins during the fourth quarter valued at $55,000. Institutional investors own 83.46% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on CMI shares. JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cummins has a consensus rating of "Moderate Buy" and an average price target of $374.25.
Read Our Latest Stock Analysis on Cummins
Cummins Stock Performance
CMI stock traded up $5.79 during mid-day trading on Thursday, hitting $359.81. The company had a trading volume of 915,994 shares, compared to its average volume of 766,937. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The stock's fifty day moving average price is $363.27 and its two-hundred day moving average price is $332.70. The firm has a market cap of $49.36 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.
Cummins (NYSE:CMI - Get Free Report) last announced 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. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $4.73 EPS. On average, analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.
Insider Buying and Selling at Cummins
In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,456,419.29. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 6,490 shares of company stock valued at $2,357,880 in the last 90 days. 0.56% of the stock is currently owned by company insiders.
Cummins Company Profile
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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.
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