Stonebridge Financial Group LLC Purchases New Stake in Cummins Inc. (NYSE:CMI)

Stonebridge Financial Group LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 12,774 shares of the company’s stock, valued at approximately $4,453,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Essex Financial Services Inc. grew its position in shares of Cummins by 4.7% during the 4th quarter. Essex Financial Services Inc. now owns 6,475 shares of the company’s stock valued at $2,257,000 after buying an additional 289 shares during the last quarter. Sapient Capital LLC boosted its stake in Cummins by 0.3% in the fourth quarter. Sapient Capital LLC now owns 13,127 shares of the company’s stock valued at $4,576,000 after acquiring an additional 34 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Cummins during the fourth quarter valued at approximately $202,000. Soltis Investment Advisors LLC raised its position in shares of Cummins by 7.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 666 shares of the company’s stock worth $232,000 after purchasing an additional 46 shares during the period. Finally, Savant Capital LLC lifted its holdings in shares of Cummins by 2.8% in the 4th quarter. Savant Capital LLC now owns 12,910 shares of the company’s stock worth $4,501,000 after purchasing an additional 349 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction that occurred on 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 directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 4,327 shares of company stock valued at $1,582,821 in the last quarter. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $383.08.

Cummins Stock Performance

Shares of NYSE CMI opened at $373.98 on Tuesday. Cummins Inc. has a 1 year low of $250.90 and a 1 year high of $387.90. The firm has a market cap of $51.30 billion, a P/E ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. The stock has a fifty day moving average price of $361.82 and a two-hundred day moving average price of $336.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. 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 previous year, the company earned $4.14 earnings per share. Cummins’s revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Cummins Inc. will post 22.57 EPS 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.