Cummins Inc. (NYSE:CMI) Shares Sold by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 975 shares of the company’s stock after selling 51 shares during the period. Live Oak Private Wealth LLC’s holdings in Cummins were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. PFG Investments LLC increased its stake in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the last quarter. Mariner Investment Group LLC purchased a new stake in shares of Cummins in the fourth quarter valued at about $1,046,000. CWM LLC raised its stake in Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares during the period. Alpha DNA Investment Management LLC purchased a new position in Cummins during the third quarter worth about $748,000. Finally, Franklin Resources Inc. boosted its holdings in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $383.08.

Insider Activity

In related news, VP Sharon R. Barner sold 2,001 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 6,328 shares of company stock worth $2,300,040. 0.56% of the stock is currently owned by corporate insiders.

Cummins Price Performance

Shares of NYSE CMI opened at $369.22 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $50.65 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The stock’s 50-day moving average is $361.92 and its two-hundred day moving average is $334.98. Cummins Inc. has a 1-year low of $247.23 and a 1-year high of $387.90.

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

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.