Crewe Advisors LLC Decreases Holdings in Cummins Inc. (NYSE:CMI)

Crewe Advisors LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 540 shares of the company’s stock after selling 32 shares during the quarter. Crewe Advisors LLC’s holdings in Cummins were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. State Street Corp raised its stake in shares of Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC increased its stake 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 worth $819,794,000 after buying an additional 2,523,854 shares during the period. FMR LLC increased its stake in shares of Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after buying an additional 9,245 shares during the period. Finally, International Assets Investment Management LLC increased its stake 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 worth $315,616,000 after buying an additional 972,247 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

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 capitalization of $50.76 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.64 and a beta of 1.00. The company’s 50-day simple moving average is $361.94 and its two-hundred day simple moving average is $334.73. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.14 EPS. As a group, analysts predict that Cummins Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 6,490 shares of company stock worth $2,357,880. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMI. Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their target price 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. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $354.00 to $358.00 in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $383.08.

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.