Cummins Inc. (NYSE:CMI) Shares Bought by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 896 shares of the company’s stock after buying an additional 157 shares during the period. Kathmere Capital Management LLC’s holdings in Cummins were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Chicago Capital LLC grew its stake in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. increased its stake in Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the period. EP Wealth Advisors LLC increased its stake in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares during the period. Bangor Savings Bank raised its position in shares of Cummins by 24.6% during the 4th 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. Finally, Graypoint LLC boosted its stake in Cummins by 2.0% during the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after purchasing an additional 36 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI stock opened at $366.55 on Friday. The firm’s 50 day moving average price is $362.91 and its two-hundred day moving average price is $326.45. The stock has a market cap of $50.28 billion, a PE ratio of 24.21, a PEG ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. 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) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company posted $4.73 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 20.75 EPS for the current year.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the 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 sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents 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. Insiders have sold 6,489 shares of company stock valued at $2,357,531 in the last 90 days. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. 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 report on Tuesday. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday. Finally, Robert W. Baird increased their price objective 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 and six have given a buy rating to the company. Based on data from MarketBeat, Cummins currently has an average rating of “Hold” and a consensus price target of $374.25.

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.