Carr Financial Group Corp Sells 97 Shares of Cummins Inc. (NYSE:CMI)

Carr Financial Group Corp cut its stake in Cummins Inc. (NYSE:CMI) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,095 shares of the company’s stock after selling 97 shares during the quarter. Carr Financial Group Corp’s holdings in Cummins were worth $382,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC increased its position in Cummins by 59.6% during 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 during the period. Prospera Private Wealth LLC bought a new position in Cummins during the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins during the third quarter worth about $34,000. Ashton Thomas Securities LLC bought a new position in Cummins during the third quarter worth about $55,000. Finally, Friedenthal Financial bought a new position in Cummins during the fourth quarter worth about $55,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 0.4 %

CMI opened at $367.45 on Friday. The company’s 50 day moving average is $363.83 and its 200-day moving average is $330.09. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 1-year low of $236.00 and a 1-year high of $387.90. The company has a market cap of $50.41 billion, a P/E ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the company earned $4.73 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent research reports. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on shares of Cummins from $324.00 to $370.00 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 increased their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.