Calton & Associates Inc. Increases Holdings in Cummins Inc. (NYSE:CMI)

Calton & Associates Inc. lifted its holdings in Cummins Inc. (NYSE:CMI) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,598 shares of the company’s stock after acquiring an additional 136 shares during the period. Calton & Associates Inc.’s holdings in Cummins were worth $557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC purchased a new stake in Cummins in the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial bought a new position in Cummins in the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.6 %

NYSE CMI opened at $359.81 on Friday. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The company has a 50 day moving average price of $363.27 and a 200 day moving average price of $332.70. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm has a market cap of $49.36 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the business posted $4.73 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins 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 sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 6,490 shares of company stock worth $2,357,880. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMI. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, 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 report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

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.