Cummins Inc. (NYSE:CMI) is RBA Wealth Management LLC’s 6th Largest Position

RBA Wealth Management LLC reduced its position in shares of Cummins Inc. (NYSE:CMI) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,835 shares of the company’s stock after selling 481 shares during the quarter. Cummins makes up about 2.8% of RBA Wealth Management LLC’s portfolio, making the stock its 6th largest position. RBA Wealth Management LLC’s holdings in Cummins were worth $7,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins in the fourth quarter valued at $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 2.3 %

CMI opened at $348.16 on Tuesday. The company’s 50-day moving average price is $362.75 and its two-hundred day moving average price is $333.86. The stock has a market cap of $47.76 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.64 and a beta of 1.00. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly 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. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.73 EPS. As a group, equities analysts expect that Cummins Inc. will post 20.62 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on CMI shares. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Robert W. Baird lifted their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 6,490 shares of company stock valued at $2,357,880 over the last quarter. Insiders own 0.56% of the company’s stock.

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.