Cummins Inc. (NYSE:CMI) Holdings Decreased by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. reduced its holdings in Cummins Inc. (NYSE:CMI) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 35,857 shares of the company’s stock after selling 125 shares during the period. Cummins makes up about 2.0% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 11th biggest position. Culbertson A N & Co. Inc.’s holdings in Cummins were worth $12,500,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Seven Eight Capital LP acquired a new position in shares of Cummins in the second quarter worth $479,000. Ieq Capital LLC increased its position in Cummins by 13.9% in the 2nd quarter. Ieq Capital LLC now owns 7,078 shares of the company’s stock worth $1,960,000 after purchasing an additional 865 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Cummins by 244.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,034 shares of the company’s stock worth $1,671,000 after purchasing an additional 4,283 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of Cummins by 7.5% during the 2nd quarter. Hancock Whitney Corp now owns 5,988 shares of the company’s stock valued at $1,658,000 after buying an additional 420 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in shares of Cummins by 26,576.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,468 shares of the company’s stock valued at $960,000 after buying an additional 3,455 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Down 0.1 %

Shares of CMI stock opened at $365.98 on Tuesday. 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 Inc. has a 1 year low of $226.52 and a 1 year high of $387.90. The firm’s fifty day simple moving average is $363.33 and its 200 day simple moving average is $328.19. The firm has a market capitalization 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 (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business 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 earned $4.73 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Insider Buying and Selling at Cummins

In other Cummins 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 value of $798,406.56. Following 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 filing with the SEC, which can be accessed through this link. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CMI shares. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird upped their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $374.25.

About Cummins

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.