592 Shares in Cummins Inc. (NYSE:CMI) Acquired by Nvest Financial LLC

Nvest Financial LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 592 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently bought and sold shares of CMI. State Street Corp increased its position in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. FMR LLC lifted its holdings in shares of Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of Cummins stock opened at $350.59 on Wednesday. The business’s fifty day moving average price is $363.40 and its 200 day moving average price is $332.55. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $48.09 billion, a P/E ratio of 23.16, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for 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 company’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.73 EPS. As a group, research analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last ninety days. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CMI. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Eight investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.