Harbour Trust & Investment Management Co Sells 45 Shares of Cummins Inc. (NYSE:CMI)

Harbour Trust & Investment Management Co decreased its position in shares of Cummins Inc. (NYSE:CMI) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,658 shares of the company’s stock after selling 45 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Cummins were worth $1,972,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. PFG Investments LLC increased its position in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares during the period. Mariner Investment Group LLC purchased a new stake in shares of Cummins in the 4th quarter valued at $1,046,000. CWM LLC grew its stake in shares of Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of Cummins in the third quarter worth about $748,000. Finally, Franklin Resources Inc. lifted its stake in shares of 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 acquiring an additional 99,464 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.8 %

NYSE:CMI opened at $372.12 on Monday. Cummins Inc. has a 52 week low of $247.53 and a 52 week high of $387.90. The stock has a market cap of $51.05 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.10 and a beta of 1.00. The company’s 50 day moving average price is $361.82 and its 200-day moving average price is $336.13. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the business earned $4.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CMI. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus target price of $383.08.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction 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 owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 4,327 shares of company stock worth $1,582,821 in the last three months. 0.56% of the stock is currently owned by company insiders.

Cummins Company 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.