Choreo LLC Acquires 3,438 Shares of Cummins Inc. (NYSE:CMI)

Choreo LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 50.3% during the fourth quarter, Holdings Channel reports. The fund owned 10,268 shares of the company’s stock after acquiring an additional 3,438 shares during the period. Choreo LLC’s holdings in Cummins were worth $3,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Czech National Bank increased its holdings in shares of Cummins by 7.1% in the third quarter. Czech National Bank now owns 27,918 shares of the company’s stock valued at $9,040,000 after purchasing an additional 1,854 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cummins by 37.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock valued at $768,000 after buying an additional 644 shares during the period. Atomi Financial Group Inc. raised its position in shares of Cummins by 9.1% during the third quarter. Atomi Financial Group Inc. now owns 1,338 shares of the company’s stock worth $433,000 after acquiring an additional 112 shares during the last quarter. City Holding Co. lifted its stake in shares of Cummins by 0.7% during the third quarter. City Holding Co. now owns 16,880 shares of the company’s stock valued at $5,465,000 after acquiring an additional 125 shares during the period. Finally, Peddock Capital Advisors LLC boosted its holdings in Cummins by 2.3% in the third quarter. Peddock Capital Advisors LLC now owns 8,520 shares of the company’s stock valued at $2,759,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMI. The Goldman Sachs Group boosted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup lowered their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $383.08.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through 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 Price Performance

NYSE CMI opened at $370.03 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a market cap of $50.76 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.64 and a beta of 1.00. The business has a 50 day simple moving average of $361.94 and a 200 day simple moving average of $334.73. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.14 earnings per share. Analysts anticipate that Cummins Inc. will post 20.62 earnings per share for the current fiscal year.

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.