Cardinal Capital Management Inc. Sells 1,090 Shares of Cummins Inc. (NYSE:CMI)

Cardinal Capital Management Inc. trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,207 shares of the company’s stock after selling 1,090 shares during the period. Cummins makes up about 1.3% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Cardinal Capital Management Inc.’s holdings in Cummins were worth $38,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CMI. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter worth $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Cummins in the third quarter worth about $55,000. Finally, Friedenthal Financial purchased a new stake in Cummins in the 4th quarter worth approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.4 %

CMI stock opened at $365.76 on Thursday. Cummins Inc. has a 12 month low of $234.04 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of $50.17 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The firm’s fifty day simple moving average is $363.72 and its 200-day simple moving average is $329.82.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping 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 firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the business earned $4.73 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

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.