Armstrong Advisory Group Inc. Increases Stock Position in Cummins Inc. (NYSE:CMI)

Armstrong Advisory Group Inc. increased its position in Cummins Inc. (NYSE:CMI) by 54.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 566 shares of the company’s stock after buying an additional 200 shares during the period. Armstrong Advisory Group Inc.’s holdings in Cummins were worth $197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Cummins by 18.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,238 shares of the company’s stock valued at $780,000 after purchasing an additional 356 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Cummins by 29.7% during the 4th quarter. Park Avenue Securities LLC now owns 5,821 shares of the company’s stock valued at $2,029,000 after acquiring an additional 1,333 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Cummins by 21.2% during the 4th quarter. Kathmere Capital Management LLC now owns 896 shares of the company’s stock worth $312,000 after purchasing an additional 157 shares during the period. Rockland Trust Co. increased its holdings in Cummins by 32.6% in the 4th quarter. Rockland Trust Co. now owns 2,873 shares of the company’s stock valued at $1,002,000 after purchasing an additional 706 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in Cummins by 3.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,744 shares of the company’s stock valued at $1,305,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. 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 research note on Wednesday, November 6th. The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $374.25.

Cummins Stock Up 1.6 %

Shares of Cummins stock opened at $366.55 on Friday. 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 business has a 50-day moving average price of $362.91 and a 200 day moving average price of $326.45. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The firm has a market cap of $50.28 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business earned $4.73 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,001 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

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.