Clarius Group LLC Has $336,000 Stake in Cummins Inc. (NYSE:CMI)

Clarius Group LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 965 shares of the company’s stock after selling 182 shares during the quarter. Clarius Group LLC’s holdings in Cummins were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its position in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the period. Legal & General Group Plc raised its stake in Cummins by 1.9% in the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after purchasing an additional 31,190 shares in the last quarter. Finally, FMR LLC lifted its position in Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares during the period. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CMI. Citigroup decreased their target price 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. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and an average price target of $374.25.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $365.98 on Monday. The stock’s 50-day moving average is $363.33 and its 200-day moving average is $327.80. The stock has a market cap of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $4.73 EPS. Equities research analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

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.