Ballentine Partners LLC Acquires 127 Shares of Cummins Inc. (NYSE:CMI)

Ballentine Partners LLC raised its stake in shares of Cummins Inc. (NYSE:CMI) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,506 shares of the company’s stock after acquiring an additional 127 shares during the quarter. Ballentine Partners LLC’s holdings in Cummins were worth $874,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Koshinski Asset Management Inc. lifted its holdings in Cummins by 13.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 1,372 shares of the company’s stock worth $478,000 after purchasing an additional 162 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Cummins by 3.1% in the fourth quarter. UMB Bank n.a. now owns 2,079 shares of the company’s stock worth $725,000 after buying an additional 63 shares during the last quarter. Strong Tower Advisory Services boosted its holdings in shares of Cummins by 2.6% during the 4th quarter. Strong Tower Advisory Services now owns 6,726 shares of the company’s stock worth $2,345,000 after buying an additional 170 shares during the period. Diversify Wealth Management LLC acquired a new position in Cummins in the 4th quarter valued at $215,000. Finally, Eldred Rock Partners LLC raised its holdings in Cummins by 0.5% in the 4th quarter. Eldred Rock Partners LLC now owns 33,055 shares of the company’s stock worth $11,520,000 after acquiring an additional 174 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $365.76 on Thursday. The firm has a market capitalization of $50.17 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12-month low of $234.04 and a 12-month high of $387.90. The firm has a 50-day moving average price of $363.73 and a 200 day moving average price of $329.56.

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

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Citigroup lowered 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. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 6,489 shares of company stock valued at $2,357,531. 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.